If you aren’t a millionaire (yet) but you’d like to at least live near some, I’m happy to tell you that there’s a thoroughly useless report that may help you. It’s the “Where do all the millionaires live?” report. So if you want to pick up stake and get close to money, here’s the list for you.
Some of the top ones are Maryland with 7.7% millionaires. I’m assuming that’s from all the politicians and lobbyists. Not that there’s anything wrong with that.
Another top spot is New Hampshire at 6.48% of the general population. With all those sprawling estates in the mountains it might be hard to get anywhere near them.
Moving out West we’ve got California with 6.04%. It’s a large state so I think you’ll find the concentration higher in one really specific spot, if you catch my drift.
Gracing the North you can see 5.74% in Washington and 5.56% in Minnesota. I guess they can afford to stay out of the cold.
Here’s where I think you can learn a good lesson. No one thinks living “close” to a millionaire does any good. Quite the opposite. You need to look for opportunity wherever you can, on fresh ground. Look around you can you’ll see it. Don’t go chasing the people who have money – chase the money!
If you want to know where the money goes in this kind of real estate market, you need to look in two places: the best and the worst. It’s that simple … and that complicated.
Basically, you can find great deals in a sure market. Find the most popular areas and make a sure fire offer. The hottest neighborhoods in terms of popularity were just released so you’ll know where to start looking. Cities like San Francisco, Phoenix, Atlanta, Las Vegas, and Seattle all show signs of being very promising.
Or you can find the cities with the worst luck. You’ll also find deals there too. You might have trouble of a different kind than in the popular places but the payout can be huge.
Really it’s a question of your perspective. Glass half full or glass half empty? Do you see challenges or do you see opportunities? Look around you and try to figure out what it is you see. And how you see it. I never stop looking at what I’m doing. Wherever I am I’m always trying to spot the best deal, find the best future for investors and homeowners, and do my part to pull this economy up.
I trust you can do the same too.
Hello Everyone, this blog is for all those people out there, who are looking to learn about real estate investing!!
Yes! I said it… REAL ESTATE INVESTING.
Justin Colby has started an all new website that provides tons of information on real estate investing – What to DO.. and What NOT to.. The website showcases weekly podcast series that will help you learn a lot about the Rehab Process, Marketing, Property Investment and the list goes on.
Here is the link to the website: THE SCIENCE OF FLIPPING
So, please comment below and tell us what do you think. See you in our next blog!
In this digital age computers sometimes have us by the … hard drive. We know what we want the thing to do but for some reason it just doesn’t want to give us the right answer. Computers are dumb that way, and smart too. Pretty frustrating.
But being a technophile I like to give my gadgets the benefit of the doubt. But lately we got pretty annoyed at a computer glitch that through the short sale industry out of whack for a little while.
Basically consumer credit reports were showing short sales as foreclosures!
Imagine that – the two things couldn’t be farther apart from each other but some dumb computer glitch (which is only now being fixed) thought they were the same.
We are sorry but the fact that short sales and foreclosures can even be said in the same breathe makes my blood boil. We don’t care how dumb the computer is there’s just no excuse for it.
We run an honest trade here people. We help banks and homeowners walk away from a bad relationship with dignity and we’re fixing the housing market in a big way. Foreclosures are for the bottom of the barrel when all means have been exhausted.
We think you should go home today and pull up your own credit report and check yourself out. If this happens again you need to bring the roof down. Let us know if you’ve suffered from this “computer error” and what you did about it.
Here we are at the end of summer and it has been a hot one. Both market and temperatures! Everyone has finished their vacations and school has started for most of the Valley.
The market continues its climb and is making a healthy recovery. It is not quite back to the height of the market but if definitely on its way.
We are now seeing fewer bank owned and short sale listings. A healthy market now exists and inventory levels are around a 3 month supply. Much better than last year as it was down to only a 1.1 month supply! Buyers were being pushed out of the market by cash laden investors. Today’s market is more balance with about the same number of sales as new listings hitting the market.
Buyers need to take advantage of the current prices and interest rates. We know prices should be higher next year and interest rates have, according to the Federal Reserve, should be much higher. There is only so much debt the Fed can buy.
Many sellers are realizing they cannot rely on a Zillow or Trulia estimate for value. Most of the evaluations are off by as much as 40%! Having a BPO(broker price opinion) completed is the best way to truly determine where your home should be priced. Let me provide you one as a courtesy. You’ll be glad you did and it will be great seeing you again!
Justin Colby describes how to be successful in real estate. One of the things that all business owners go through is the struggle of reaching their goals. Most business owners quit before they ever see the fruits of their labor. I recommend to stay with it. Jason Medley and I discussed that all business owners, no matter what they are selling, go through the same struggles. Stay with what you are doing, don’t quit, no matter how difficult it may seem.
How to be successful in real estate. Justin Colby discusses how to be successful in real estate with online marketing. How to find buyers! How to find deals!! Being online today is absolutely crucial. You need to use Facebook, youtube, craigslist, link’n etc. We are finding buyers, we are finding sellers.