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CITY

Select a City: No Preference Alford Altha Apalachicola Blountstown Bonifay Callaway Campbellton Caryville Cedar Grove Chipley Clarksville Cottondale Defuniak Springs Destin Ebro Fountain Freeport Ft.walton Bch Graceville Grand Ridge Hiland Park Howard Creek Kinard Lake Merial Lynn Haven Marianna Mexico Beach Miramar Beach Navarre Niceville Other Panama City Panama City Beach Parker Ponce Deleon Port St. Joe Rosemary Beach Santa Rosa Beach Seacrest Seagrove Beach Southport Springfield St.george Island Unincorporated Vernon Watersound Wausau Wewahitchka Youngstown Choose a property type: Residential Residential Land Commercial Sale Commercial Land

What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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SUBDIVISION

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What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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ZIP

Enter Zip Code Choose a property type: Residential Residential Land Commercial Sale Commercial Land

What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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MLS #

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MAP

Select a Starting Point: No Preference Alford Altha Blountstown Bonifay Bristol Callaway Carrabelle Caryville Cedar Grove Chipley Cottondale Destin Ebro Fountain Freeport Ft.walton Bch Geneva Graceville Grand Ridge Hiland Park Lynn Haven Marianna Mexico Beach Milton Miramar Beach Niceville Panama City Panama City Beach Parker Pensacola Port St. Joe Quincy Samson Santa Rosa Beach Seagrove Beach Southport Springfield Vernon Wausau Wewahitchka Youngstown Choose a property type: Residential Residential Land Commercial Sale Commercial Land

What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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Panama City Real Estate | Real Estate Article

Real Estate Investing for Beginners - Part 2
Types of properties for new real estate investors

Part 2 of a multi-part series

Jennifer Mackay/Jessie Cochran

Not all real estate property types may be appropriate for new real estate investors.  There are many factors to consider when making the decision to add real estate to an investment portfolio. 

The continuing purpose of this article series is to assist new investors in making sound real estate investment decisions. Making sound real estate investment decisions initially may lead to the more lucrative opportunities of Commercial real estate investing.

When deciding on a residential real estate investment strategy, some options for new investors to consider include:

Rental units

Rental units can be considered both long term and short term investments.  Types of properties that may be considered for this category would include:

•  Detached single family homes
•  Attached single family homes
•  Multi-Unit properties
•  Condos/Townhomes

Being a Landlord

Not everyone has either the desire or inclination to be a landlord.  Dealing with tenant and property issues can be very stressful and time consuming. 

One way to minimize the impact of being a landlord is to hire a professional property management company. 

Hiring a professional property management company has several advantages:

• Allows owners of rental properties to be 'shielded' from dealing with tenant and property issues directly. 
• Provides a buffer allowing the owners to maintain a hands off approach to managing their properties.
• May provide a less stressful experience
• Offers the ability to purchase real estate investments not immediately local to the investor.
• Provides a single contact point for all issues regarding the investment property.

Professional property managers are well versed and prepared to manage tenant and property issues as they arise.  They will typically take care of all issues relating to the property. 

Many offer their services at reasonable prices and rates while others can be quite expensive depending on additional services being offered.  You may expect property managers to provide the following services:

• Advertise properties available
• Recieve applications for tenancy
• Perform Credit and Background checks for applicants
• Recommend rental pricing
• Pay maintenance and/or repair bills for the owner
• Send monthly statements and rental income (Less any outstanding bills. Typically these are deducted and itemized from the rental income and will appear on monthly statements)

Flipping or The Bane of New Investors

Often times, new investors in real estate are overly anxious to 'flip' properties and make a significant profit.  Rumors of how friends or acquaintances have made allot of money is often the incentive for 'flipping'. 

The real estate market fluctuates greatly.  Yesterdays great 'flipping' market may be (recent market trends as an example) tomorrows 'Hold on to it' market. 

While this is certainly a desirable quality of an investment property, it is and should not be the primary consideration for new real estate investors. 

The competition for this type of real estate investment is fierce and occupied by seasoned, experienced professional builders and investors!

Property Types

Let's discuss the various property types which may be considered by new real estate investors.

The selection of the type of real estate property for investment purposes may be based on several factors. 

These factors include:

• Financial considerations - How much can you afford?
• Availability of properties - What types of properties are available?
• Location - You've heard this one a thousand times - Location...Location...Location...
• Income potential - Does the property in question match your real estate investment strategy?

Detached and attached single family homes

Single family homes whether attached or detached are often the first real estate property type new investors seek.  In many areas, they offer the most availability of any property type.

Prices obviously vary greatly with these property types as well.

Multifamily Properties

Apartment units such as duplexes and triplexes should be considered as a viable option for new real estate investors.

Many investors and real estate professionals use apartment buildings as a point of entry to a portfolio of commercial real estate holdings and to build their equity before moving on to larger commercial real estate investments.

Duplexes, triplexes and fourplexes are two, three and four-unit buildings that may or may not be owner occupied.

Summary

Selecting an appropriate type of real estate property in which to invest is a primary consideration for all serious real estate investors.

Real estate investment strategies include the decision of whether or not to become actively involved in the management of the property.  Professional property managers offer alternatives to assist in a "hands off" approach to owning residential income property.

Knowing there are options on the various types of properties to purchase as investment may provide new real estate investors the information needed to make that final decision to become a real estate investor.

© Copyright 2008 Jennifer MacKay. All Rights Reserved.

End of Part 2

Jennifer Mackay REALTOR®
Keller Williams Success Realty
2110 W. 23rd Street, Suite A. Panama City Fl 32405
Direct: (850) 774-6582
Office: (850) 392-1700
Fax: (850) 522-3697

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