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Steve Presley I'm always at-home talking about real estate. I've been purchasing investment properties for years but it was in the early 90's that my real estate portfolio started to really take off. I learned about a process for buying real estate before it was constructed ... preconstruction as it's now referred to. In doing this I learned how to "control" real estate without the hassles of "owning" real estate.
(November 16, 2006) I marvel at the pictures of the proposed new international air port planned for Panama City Beach Florida as I prepare to close loans on a few preconstruction properties I purchased in this market. The aggressive all glass enclosed 21st century look is certainly appealing. I remember as a kid visiting the area and my dad saying he wished he could purchase something in this area and as we all know hind site is 20/20. I purchased several beach front condo units in this market a few years back and have sense resold several for a handsome profit .I am also in the process of closing on a few units that I plan on holding for a few years. I wont get into the details about this market other than to say it is positioned for growth and has all right political and business greed factors in place to rival the airport market growth we saw in the 80s on the central west coast of florida. See the CNN money article on our site at www.pricemorgan.com I am considering taking out a negative amt loan on these properties knowing there is currently quite a lot of current equity in my units, and given my thoughts of the future growth in the area there will continue to be appreciation. The idea here is to weather this changing market from a cash flow perspective and ride the market back up over the next several years. A neg amt loan at a rate of 3% a year negative will not impact my current equity position if this market just moves modestly over the up coming few years. If the stars line up and the two things a small city needs to grow (more people or wealthier people) I could see my equity double in the next five years. At www.franklinwealth.com we teach about three things that should be considered when purchasing real estate. Most people would say the three most important factors are location, location and location. At the Franklin Wealth institute we see this a little differently. We believe the factors are "location, fundamentals and leverage". These are the factors I have taken into consideration as I look top close my units in Panama City Beach and hold them as this market gets a chance to thrive. |
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