One Out of Every Five Buyers is a WHAT?
Can you believe it? One out of every 5 buyers in today's market is an investor!!!
- 66% of what investors purchased last year was detached single family units, 22% were condos or duplexes, and only 8% of purchases were multi-units, attached townhouses, or rowhouses. (investors buy mostly single family homes, not strip malls and commercial property)
- 54% percent of all investment properties are located within 20 miles of the investor's primary residence, and roughly two out of three were within 50 miles. (more reason why you should market to absentee owners in your area)
- 42% of investors paid all cash for their purchases, versus 15 % for buyers of primary residences, and 31% for buyers of vacation homes. (These folks have money, financing is not an issue)
Investors are not wealthier than other buyers. Second and vacation home buyers had higher median household incomes ($97,000) compared to real estate investors ($85,000). (Joe the hard-working plumber is your target customer, not Joe the millionaire)