By Joe Palumbo III
But what happens when the capital needed for real estate investing is still out of reach for many? The answer may lie in out-of-state real estate investing. Currently, the most affordable is the Florida region, where an investor can purchase a home for as little as $6,000. After the hurricane decimated the Florida trailer park region, many lower- to middle-income families are now focused on buying a home. CCI Builders has made the dream affordable by reducing costs by building in volume.Here's how it works. As an investor, you put up $6,000 to purchase property. As an owner, you have the right to sell or hold, depending on the market climate and monies being offered. The property funds itself monthly, because your tenants are living under a lease-to-own program. Most times, inside of a year the property is refinanced, the owner gets a profit, the tenant a house. Most lease-to-own tenants initially don't have the credit and/or financial assets that would qualify them at the onset, which is why investors are needed initially.So how's business with regard to out-of-state real estate investing as an option? Getting started in real estate at times can be very costly, especially in New York. What I like about this investment model is that it is affordable for almost anyone to get involved with and so far has a proven track record Ð Florida real estate is some instances has risen in the neighborhood of 40%.Joseph J. Palumbo III is a managing partner for the Palco Group. The Palco Group deals in asset management, real estate, sales training and business consultation. Palumbo can be reached at 718-461-8317, or at palcogroup@aol.com.
