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Answered 2007-01-31 07:59:44

real estate is always a risk. I use to live in Vancouver, B.C., and my family home was sold in the late 1980s for $365,000, and that same house on a fairly large lot is now worth one million dollars! When we sell it's always going to go up when more people move in or there is more building going on. I don't know what your circumstances are financially, but here is a good idea. If you have money left from the sale of your house then go on a mini holiday to another town or State and look over the Real Estate properties there. Usually smaller towns are a great investment (somewhere not more than 80 - 100 miles from where you live (if possible) and try to buy a piece of property with a decent little house on it to rent out that will help pay your mortgage and taxes on it. The other option you have is to go into a banking institution and ask what homes the banks have taken over because the person has not been able to pay the mortgage or kept the taxes up. Often you can pick up a small house on a good piece of property, rent it out to pay off the rest of the mortgage and make a good profit. Watch what is being built around the town and talk to Real Estate Agents and pick their brains. Be wary, that Real Estate Agent wants to make their commission, but, take a little of their advice, survey the town you are interested in, talk to a few people in the town and look at property and what you can afford and sit on it for awhile. Hope this helps.

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