Condos have become a much-needed form of housing for millions of mostly retirement-age American citizens. Why? Because these people no longer need to live in a large, virtually empty home, requiring a lot of upkeep and expenses, and condos become a rational answer to their problems. Maintenance requirements are limited to within the four walls of their apartment, and major exterior maintenance is paid for out of the monthly maintenance fee paid by each apartment owner.

To take advantage of this emerging market, many real estate investors are simply converting existing apartment buildings to condos. When converted properly, apartments converted to condos can give an investor a substantial profit on his invested capital in a very short period and thus provide an excellent real estate investing opportunity.

Okay, but hold on. Before you think about converting an apartment building to condominiums, there are some things you need to know about converting.

Foremost, you must assess and understand your real estate market. You want to be sure that there will be a demand for your condominiums, and you want to know at what size and resale price.

Secondly, you must determine how much it will cost for the conversion, considering such things as interim financing costs, renovation costs, and promotional costs.

Yes, condo conversations can provide you with a very profitable real estate investing opportunity. Just be cautious. Do your homework and run the numbers. It’s like the proverbial saying goes, “measure twice and cut once.”

Monday on “Your World w/Neil Cavuto” (Fox News, Oct 6, 2008) Donald Trump announced that he is not slowing down his real estate investing activity during our slumping economy. On the contrary, Trump made it clear there are good real estate opportunities to be had at “fire sale” prices that real estate investors should capture.

So how are you reacting to this financial chaos? Are you investing, or has this uncertain financial market got you frozen in your tracks? If you are frozen, you might be missing one of the best opportunities to invest in real estate that we’ve had in a long time. Consider this:

1. There are numerous “fire sale” deals available for real estate property throughout the United States
2. Interest rates are still generally favorable
3. Our economy will survive, so it’s just a matter of time before your investment in real estate is worth more than you pay for it by virtue of a greater demand for it

This is not the time to bury your money under a mattress. Yes, it’s comforting to be able to put your hands on it quickly, and perhaps like Donald Duck’s eccentric Uncle Scrooge, be able to roll around in it, but it will cost you big time. Inflation alone will devalue your money; your money won’t be worth as much next year as this year.

Here’s a better suggestion.

First, develop an investing plan. Then locate a real estate professional in your area that understands income-producing property and has a track record for investment property sales and build a relationship. Let him or her know what your investment objectives are and have them start looking for profitable investment opportunities.

If you know enough about the nuances of real estate investing and have a good understanding of your local real estate market, great. Then start kicking the bushes yourself.

The point is not to neglect doing something. This slumping financial market is unnerving, certainly, but our economy will survive and bounce back and what you invest into today will make you money tomorrow. If you have the financial means to invest in real estate without jeopardizing your welfare, then this is not the time to run for cover and hide. Instead, follow in the tracks of the Donald, during this slumping economy, look for, pursue, and seize investment opportunities with abandon.

ProAPOD® Investor 4.0–our real estate investing software solution for new real estate investors–has been updated. The modifications to this real estate investor software solution include the following:

1. Loan-to-Interest Table -This table allows users to quickly determine the monthly mortgage payment on a range of loans and interest rates.
2. Retail, Office, Warehouse labels - This will allow users to identify the rental income from these types of unit configurations in addition to the other configurations originally included in the previous real estate investing software solution.
3. Assumptions Report - Reformatted with better descriptions
4. 3-Year Monthly Cash Flow - Reformatted
5. Sensitivity Form - The form has been relocated from LoanInfo to its own form

How to Obtain

1. From our website at http://www.proapod.com click Customer Login
2. Login with your email and password
3. From your Customer Account page click the download link under Updates

Requirements

1. ProAPOD® Investor 4.0 must currently reside on the computer
2. Your membership must be active. If your membership has expired simply click Renew Membership and follow the online instructions. The renewal cost is just $39.95 and entitles you to receive one more year of free updates and tech support.