Mike Collins, founder of RehabList.com and 20 year veteran of real estate investment, has made a name for himself in the real estate investment industry by creating materials to teach others how to start a fulfilling new career in the real estate investing industry.
Many new investors struggle in the beginning of their careers when deciding what types of property are the best investments. Mike Collins does not hesitate to advise new investors to stick to single family residential homes.
The best areas to invest in are blue collar neighborhoods that are 20 years or older. Typically you should look for homes that have features most people are attracted to, which is usually a 3 bedroom 1 or 2 bath home between 900 and 1500 square. By investing in these types of areas you will find more deals and have an easier time selling or renting he homes.
Mike also recommends specializing in one area, look for those blue collar 3 bedroom 1 or 2 bath neighborhoods that you are somewhat familiar with and “farm” so to speak the area. Once you specialize in flipping homes in one area then you can expand out.
Questions for Mike? Post a comment!
2 Responses to “The Best Homes to Invest In”
I am a new investor just starting out and I was wondering if you new what are the best lenders to apply to for a unsecured line of credit instead of a hard money loan?
I agree..we only look at 3/2 homes with pools. We are getting great deals on our properties and have actually begun looking at war zone props.
Lately, with the rise in Section 8 activity. These have found to be quite valuable.
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