ALMOST A FREE HOUSE! We don’t hear these words very often. Besides sounding kinda silly, that’s probably because a home is usually the most widely desired and most expensive item that the average person will ever pay for. Even if we are fortunate enough to inherit a residence or to otherwise get one without paying for it, we would still need to pay for taxes and insurance. So the question is: How close can we get to receiving a free house? Besides inheriting real estate or winning it in some kind of raffle, the closest things to a free house is getting a good deal on a home, perhaps little or no money down, or maybe even a full 20% down and then having a positive cash flow so that we receive more money every month than we pay out toward the property. Now we are getting a bit closer to what can really be accomplished when looking in the right place. #realestate #investment
Add the fact that real estate can appreciate forever, and then realize that we can receive ever-increasing monthly rental income that turns into a growing retirement fund, it’s no wonder that real estate is the best investment that most will ever make.
The L.A. Loft Blog correctly pointed out in 2011 and succinctly phrased that Downtown real estate was “almost free.” Those who saw the truth and the value at the time have been rewarded. Many purchased then Downtown lofts for $125,000 to $250,000, rented them out at a positive cash flow, and enjoyed watching the properties grow to values of $400,000 to $500,000 in just a few years. That truly is almost free, and quite possibly could be called better than free.
LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]
While Downtown does not offer the same opportunity today, opportunities can always be found when we are open to seeing them and seizing them at the right place and right time: