Are you thinking about investing in Augusta real estate? Are you already an investor in Augusta, and are waiting for that bargain property to pick up at a discount in this current housing market? Well what are you waiting for?
Augusta has always been a great place to invest in real estate, because of its very low cost of living. The “numbers” on rental properties are outstanding compared to other parts of the country. Want to see an example? Well let’s look at this property that just sold at 2047 Starnes St. Augusta, GA 30904 in the Harrisburg neighborhood. A 1200 sq. ft. 3 bedroom 1 bathroom home sitting on .2 acres of land just sold for $15,000 just last week. Now, I bet you are asking… What work was needed? First let’s talk about what work was not needed. The property already had central heat and air, new kitchen cabinets, large bathroom vanity, and all bathroom fixtures still in place. Now for what work was needed: Subfloor and floor had some damage, new kitchen appliances, and the entire home could have used some updating in the form of paint. The repair costs could have ended up totaling $10-15,000. This brings our total for the home to about $30,000. In this particular section of Harrisburg you can look to rent a 3 bedroom 1 bathroom home for around $600-$650 a month. If you add a bathroom, you could potential rent this home for $700 a month. Now that is what I call bargain Augusta real estate! Purchase a home for $30,000 and receive $600 a month in rent. You will find that there are not many places in the country where you will be able to find that kind of return for your money. There are several other things you should consider when purchasing an investment property, such as: insurance, property taxes, closing costs or hard money lending costs, construction costs, refinance costs, etc. Check out these Augusta, GA Investment Properties available now.
That all being said, this current housing crisis is giving Augusta investors the opportunity to find extreme bargains on already cheap real estate. I have personally purchased two homes in the Harrisburg area, and am looking for my next property. Visit the Augusta area section of my website for more information on Harrisburg and the surrounding areas.
Harrisburg is not the only area that is in a convenient location to many Augusta attractions that provides investment opportunities. Augusta’s rich history of homes provides excellent investment opportunities all over the city. The government is in place to improve the city’s infrastructure, but does not have th e money to go out and purchase dilapidated homes in hopes of a profit. This niche is where real estate investors in Augusta have an opportunity to work alongside the city government to improve the city, as well as, be rewarded with a profit at the end of a successful real estate deal.
If you have any questions about real estate investing in Augusta, or want want to invest in Augusta real estate click “Augusta Investors list” for more information.