Real Estate Finance And Investments Risks And Opportunities Chapter 1 The Secret to Increasing Cash Flow – Invest in Opportunity Zones

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The Secret to Increasing Cash Flow – Invest in Opportunity Zones

A wise man makes more opportunities than he gets. ~ Francis Bacon

introduction

Don’t just look for homes that meet your criteria, look for homes that meet your criteria in places people like to rent. My city has good areas and my city has not so good areas. However, neither of those two areas are where many people like to rent property.

There is an “opportunity” zone between good and bad areas where people are eager to rent, and where house prices are relatively low, but where you can afford moderately high rents. These areas have both good and bad houses, but usually there are supermarkets and stores in close proximity, often close enough to walk.

Advantages of Opportunity Zones

Opportunity zones have an overriding advantage over other areas of the city, you can make more money with them. There are two reasons for this:

1. You pay less for a rental property in an opportunity zone than for a comparable property in a good neighborhood.

2. You can rent like in a good neighborhood.

For example, I own two houses in two different parts of the city. I have a house in a nice neighborhood on the edge of town with new growth going on. I pay $700 for the mortgage, and I get $875 in rent for a profit of $185/month.

I have a second home in an opportunity area neighborhood, near the center of town where property values ​​are low. For this house, I pay $525 for the mortgage, receive $750 for rent, and turn a $250/month rental profit.

It’s not how much I earn each month for the house, but how little I pay for the mortgage to account for the high opportunity area benefit!

Why do people choose to live in opportunity zones?

1. Cost. As mentioned, the cost of buying a property is affordable, and while you can walk to buy your groceries and other staples, you pay less in gas.

2. Convenience. Many people want to reduce their dependence on automobiles.

My opportunity field experience

When I bought my first house, I bought it in an opportunity area. My wife and I liked the house because the price was right and because of the location, close to shops. Not only did we buy groceries and rent movies, but we also walked the neighborhood at night for exercise.

The area was a mix of all types of housing. The four square block we lived on consisted of owner occupied homes, townhouses, apartments and trailer parks. Our house was located within three blocks of two grocery stores, a video rental store, 7-11 and Circle K stores, an auto parts store, a Taco Bell, a McDonald’s, and a pharmacy. Yes, there were some rough edges in the neighborhood, some weird characters like that in the neighborhood, but they were in the minority.

We lived in that house for 9 years. Then we bought another house and rented out our first house. I recently bought a second house on the same block. It has become a place where it is very easy to find good tenants.

I have no desire to live in that area again, but it is a place where I like rental properties.

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