I was having a great breakfast this morning (at the Lyndon Diner, if you must know) talking with a good friend who is an investor in the business realm - he spends his days evaluating businesses for future growth and potential. We were observing how much his profession has in common with my expertise in investment properties here in Lancaster County (and all of PA where the markets are similar).
As a real estate professional who has a specialty in procuring residential investment properties for my clients, I need to have what amounts to a running "ticker" in my head for each area, neighborhood and even block (or half-block, for that matter). This "curve" consists of two graph lines: acquisition cost and resale potential.
When I'm researching homes for an investor, or answering questions about potential opportunities, I need to know to a high degree of detail what the resale price range will be for a given address and home type (detached, townhouse, etc) as well as the property details (3-story vs. 2, parking, etc).
Then, I need to know what acquisition price would put the property into the "buy" category - what are the comps, what's happening in that neighborhood, an assessment of condition and repairs/upgrades needed.
I do this by keeping completely abreast of the changing price points and sold prices (there's a difference), watching the news and networking with other active agents, and remaining current on financing options for my clients.
Putting it all together, my mind runs this "curve" graph all the time - even when I want to turn it off! I'm always looking at the spread between buy and sell price. Seriously, this is what my clients pay me for (among other things). When they find a property they call me with a "what do you think?" query right away. When I send them something new to consider they take me very seriously. It's all part of making myself the best representative I can be for you.
Give me a call or drop me an email to get started investing in Lancaster County PA Real Estate! In particular, I'm bullish on Lancaster City real estate as a great investment vehicle and can help you with getting started there.
