Real estate investment Tennessee

Real estate investment Tennessee

Real estate investment Tennessee

Tennessee -- the small, slick state that brought up many political figures of great interest, including the advocate of each man's independence Andrew Jackson -- has diverse opportunities as far as real estate revenue is concerned. The climate is humid to subtropical to continental. The income tax policy is of particular interest to investors as salaries and wages are not taxable, but income from bonds and stocks is. People invest in real estate because, for those who are in it for the long term, it produces handsome rewards. Also, the health of the real estate market stays consistent and does not waver as wildly as the stock or bullion market. Anyone who has entered the real estate market with an ideal of long term capital appreciation will not be turned away disappointed, because there is appreciation on a year-on-year basis in this field. To compound and encourage this, the tax laws of this state offer an inviting tax benefit to those who choose to invest in real estate.

Currently, the best bet for real estate investment in Tennessee is through the foreclosure listings. The most obvious reason for this is that foreclosed homes are almost 50% cheaper than their newly finished counterparts. Also, foreclosed homes are in good working condition and available for immediate occupancy once the deal is finalized. Short sale listings are also available if the right kind of knowledgeable real estate dealers are contacted. These are great deals because the broker would be handling a large number of projects and there would be an opportunity to haggle' and negotiate a cheaper deal. Short sale option is usually profitable to the intermediary because they borrow first from a lender and sell it in the market for a profit. Then they buy a similar piece of property to be returned to the lender, thus making a good deal without actually possessing the asset physically. These profits can be passed on to the buyer.

Investment in real estate is not just for homes and public structures. It also means construction of holiday homes, resorts and vacation getaways. Tennessee boasts of a huge leisure travel population and the Smoky Mountains are a tourist attraction that can be cashed in on. The Gatlinburg, Pigeon Forge and Sevierville corridor are great places for year-round tourism and the best way to attract revenue in this sort of earthly paradise is through investment in holiday homes. Being geographically close to the many leisure travelers and corporate employees on either side, Tennessee attracts tourism from both the West and the East Coast.

The Smoky Mountains area in East Tennessee also seems to be making crusades of development and expansions, so there is a bright future for those who invest in real estate in this area. As more and more travelers pick this spot for their overnight trips, the demand for accommodation will pick up and property owned or rented will become a huge asset. Before one knows it, he or she will surpass their most optimistic targets for return on investment and will be laughing all the way to the banks.

For the rookie investor, there are plenty of real estate agencies to guide him or her through the process of real estate investment. But before formulating an investment strategy, it is important to find an agency that has a proven record of successful projects carried out and take a quote from at least two or three agencies before settling for one suitable quote. If it a local agency, its understanding of the local market will be an added asset until one becomes experienced. Given the present state of the economy, it is advisable to start with foreclosure properties before trying more ambitious projects.

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