You might not want to live in a haunted house yourself, but you’d be surprised by the number of people that do. All around the country, small groups of eclectic real estate investors are clamoring for properties that seem ridiculous on the surface but that are worth more than their weight in gold to the right buyer. If you want to make some serious money in this sluggish market, try looking into one of these ridiculously profitable markets.
1) Doomsday Shelters. One of the most lucrative underground real estate markets is literally under the ground. Fallout shelters, originally designed to protect families from nuclear radiation in the 1940’s, have gained a small-but-steady following of survivalist homeowners in the past few years. These WWIII-proof bunkers are so popular that even a small one can add $40,000 to a house’s property value.
2) Retro Houses. If you don’t think a 60-year-old house is a good real estate investment, you’ve clearly never met a retro renovator. These architecture enthusiasts are wild about 50’s-style houses, and they’ll pay top dollar for an original home in good condition. If you’ve got a knack for flipping houses, you might want to consider going retro for your next project.
3) Gay Retirement Communities. Baby boomers who are getting ready to enjoy retirement face a problem if they’re gay: LBGTA-friendly retirement communities are hard to find. But retirement communities in general are booming, and a smart real estate investor can make good money by converting weathered clusters of condos into progressive-minded playgrounds.
4) Haunted Houses. America has had a love affair with haunted houses ever since Edgar Allen Poe published “The Fall of The House of Usher.” If you can find a home with a paranormal past – especially one that was the scene of a grisly crime – you could get a king’s ransom for it from a buyer with eccentric tastes. We don’t know why anyone would want to settle down in a haunted house, but if they’re willing to pay for it, then we’re not complaining.
It takes different strokes for different folks, especially when you’re talking about buying a house. Although making a real estate investment in some of these markets could be construed as being a little off the wall, you could make a healthy profit if you’re willing to step out of your comfort zone and get a little experimental. You’ll also have stories to tell.
