Luxury Portfolio:
LUXURY PORTFOLIO LAURA ALAMERY
in sight, mostly to rent out. The second factor has been the exponential increase of foreign investors in the US real estate market. Last year, Chinese investors spent $ 12 billion on U. S. real estate, making the country the secondbiggest foreign investor, just behind Canada, according to the National Association of Realtors.
Luxury Portfolio:
Many real estate investors have been engaged in luxury real estate investing for decades, keeping this as the best kept secret from the masses of real estate investors dealing mainly with“ regular” real estate properties, unaware of the gold mine sitting right in front of them.
Mansions follow the same wholesaling principle as smaller homes: you can flip a mansion the same way as you flip a regular home, the only difference is the profit potential. Basically add a zero to your take home check.
There has been a surge in highend and luxury flipping nationwide. Between 2011 and today, flips of homes valued at $ 1 million or more have risen almost 40 percent across the United States, according to RealtyTrac, the housing data company. Two main factors have contributed to this increase in interest on accumulating a luxury portfolio: the first one, with the real estate market collapse, Wall Street investors saw an opportunity in luxury portfolio investing and moved into the midmarket with so much money that they bought nearly every foreclosure
With so much money circulating in real estate investing from Wall Street to international investors, some areas are a sure bet for attracting highend buyers either as owner occupants or investors looking to increase their luxury portfolio. These are some of the most popular cities for luxury real estate investing:
• Beverly Hills, California
• Manhattan, New York
• Bel Air, California
• San Francisco, California
• Palm Beach, Florida
• East Hampton, New York
• Martha’ s Vineyard, Massachusetts
• Miami, Florida
• Malibu, California
• Denver, Colorado