If you are looking for your next, or your very first, investment property you may want to consider searching the Venice real estate market for a bargain deal. Currently, over a quarter of all the homes on the Venice real estate market are distressed properties. If you are new to the investment property business, a distressed property is typically either a short sale or a foreclosure; essentially a home that is being sold for no profit. The Venice real estate market is a great place to start if this is your first time purchasing an investment property because of the number of distressed homes that are available. This gives you, as an investor, plenty of inventory to choose from when it comes to your next rental property or second home.
Not only are there a number of distressed properties for sale on the Venice real estate market, the average listing price has also decreased since the previous year; this also means that the price per square foot has decreased. You could get a decent house for an even better price than expected and with interest rates being so low you could potentially save yourself a lot of money all while making a nice profit from your tenants.
There are other aspects of the Venice real estate market that hint it is moving towards a seller’s market, but if you find a distressed property to purchase today, the money you can make from tenants and the profit you’ll make years down the road when it’s time to sell will be phenomenal.
If you want more help or information about delving into the investment property business and would like to begin looking at the number of homes that on inventory on the Venice real estate market, get in touch with a Venice real estate expert today.