the URBAN EYESORE that's selling million-dollar homes | Episode 50

Real Estate Investing Today : Real Estate Investing | Wholesaling | Flipping | Funding | Self Directed IRA | Finding Deals | Real Wealth

Wouldn’t you like to know about an URBAN EYESORE that used tosend buyers running AWAY but now can bring them running to theclosing table? Even better, most investors will AUTOMATICALLY PASSon this “great” location. I’m Carole Ellis. I’ve got all thedetails today in episode 50.So wouldn’t you want to know about a location that could lurehomebuyers in droves, persuade them to pay triple the U.S. medianhome sales price in some areas, and was basically an “open-airsecret” from most investors? Of course you would, which is why I’mhere. I’ll tell you all about it, but first I want to make youaware of a BIG CHANGE that is going to affect the way a lot of youfind your deals. It has to do with AUCTION.COM, and let’s just sayif you don’t have all the information, you might think that thisonline real estate platform has GONE AWAY. The truth, however, ismuch bigger and more exciting (if you know how to take advantage ofthis MAJOR CHANGE), and you can get all the details in our News& Networking section at www.rei.today/auction.And, maybe even better if you happen to live in the Birmingham,Alabama area, on May 10 or near Miami, Florida, on May 16, thecompany’s experts are hosting a live, in-person seminar on just howto use their new, MASSIVE system. Get all the information atwww.rei.today/auctionand, just for REI Today listeners, you can register for that liveevent for FREE if you mention this show!Now, back to the urban eyesore today’s homebuyers LOVE…You know that in real estate, the old saying goes, “Location,location, location.” Historically, conventional wisdom has dictatedthat certain locations are particularly attractive – you know,lakefront, beachfront, exclusive communities, etc – and thatcertain locations are, well, less than attractive, such as homesnear airports, train tracks, and freeways, which tend to have noisepollution in spades and often be less than ideally pleasing to theeye as well. However, two of those three locations are gettingtrendier all the time, and it’s not just in cities where the realestate prices in prime locations are too astronomical for theaverage American to afford. Homes near highways and train tracks,once considered last-ditch options that would certainly be farcheaper than anything comparable elsewhere, are now pulling inrespectable sales prices all over the country because of the urbanaccess that they usually represent.This trend of building lots of highly desirable houses in areasthat didn’t used to be so geographically desirable is called“in-fill” and it can give a real estate investor a huge advantageif he or she is, well, in the know. In-fill is defined as theprocess wherein developers buy land in a traditionally unattractiveareas – trash-filled lots, older buildings adjacent to train tracksor highways, factories, bowling alleys, or other buildings thathistorically would be in those locations because the noise didn’tmatter so much, and tear them down to make way for mixed-use oreven just residential housing. These areas usually are within primewalking distance of shops, restaurants, and other conveniencesalready, in addition to having great public transit access ofcourse, and that makes them highly attractive to young, well-paidprofessionals who value location and walkability or bikeability farmore than they mind the dull roar in the background of theirlives.So how can you leverage your knowledge of infill to youradvantage as a real estate investor? Well, for starters, probablythe biggest advantage you now have is that you possess informationabout this location that most buyers and investors do not. Sure, incities like Los Angeles or New York, it’s pretty common knowledgethat people will buy just about anywhere you can build. But you canalso use this knowledge in other attractive metro areas –particularly cities with a large influx of millennial buyers andyoung professionals heading in their direction, like my ownhometown of Atlanta, for example – to spot prime locations forrehabs, flips, or even development that you can get at a discount.Check out what the senior vice president of research at John BurnsReal Estate Consulting, Jody Kahn, said about this topic. Sherecently said in a press interview that Cleveland and Philadelphiaare prime areas for infill because and I quote “everybody is movingfrom the suburbs into the city” in these areas. John Burns is oneof the biggest names in the business, and Kahn added that they’readvising developers everywhere to consider this “urban eyesore”opportunity.Here’s something you must remember, however, when you’re buyingin locations near highways, train tracks, or other conventionallyunattractive areas: Check out the mass transit options, thewalkability and bikeability scores for the area, AND crime levelsbefore you buy. These are things that your buyers are going to careabout even if the noise is not, and you must be able to demonstratethat these attractive advantages are present in your traditionallyunattractive location. Get all the details about how to do thisfrom our special report, “REI Today’s Guide to Buying Near UrbanEyesores” which was just released in the REI Today Vault. You canhead right on over to www.rei.today/vault toaccess it, or if you’re not yet a member, text REITODAY no spaces,no periods to 33444 and I’ll immediately send you the informationyou need to get that access and ALSO provide you with fast,immediate access to all sorts of great trainings, news coverage,interviews, and lot more timely information that will help makeyour investing safer, faster, and more profitable.And remember, when you do that, you’ll also be able to GROW YOURNETWORK by interacting with me and your fellow listeners to REIToday… so stop by to ask questions, make comments and network withother investors across the country. Text REITODAY no spaces noperiods to 33444 or head over to www.rei.today/vault rightnow.REI Nation, thanks for listening in and always rememberthis:Your best investment is your own education.

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