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The Sky Is Falling! (or is it?)in real estate investing
I truly get a kick out of the media! If you spend any time watching TV, listening to radio,
reading blogs, etc., you will be told over and over again how terrible things are “out
there”.
Stocks stink, real estate is dropping like a Led Zeppelin, the dollar is shrinking. We’re
and people ARE hurting. I made less money myself in 2010 than prior years, (GASP! Did
entrepreneurs, we like to think we can, but sadly, “some” things are truly out of
our control. Having said that, there are other things that we CAN control… and THAT are
where we have to put our efforts. Our paths in life are not always controlled by our actions…
but our reactions. We can’t control the wind, but we can adjust our sails!
Luckily, we’re in a business that gives us flexibility… so we CAN “adjust those
sails”. Those who blindly bought properties many years ago not looking for “the bubble
to burst” set themselves up to fail. They followed the crowd… and like it is so often
said: “If you’re buying the same stock everyone else is buying, it’s probably the
wrong stock”!
To be perfectly honest and transparent, I too jumped at the easy money and scooped up
loans and bought properties I shouldn’t have, (mainly “because I could”) and a
few ended in losses for me as well. But I didn’t let what could have pushed me out
of the business to do so. I realized it was nothing but an expensive lesson, and moved
forward. (They say lessons can’t be taught, only learned!)
What goes up must come down… then bounces! Real estate investors who took a loss and
left the business are walking from what could be the greatest income opportunity of their
lifetimes! What goes up must come down… and most of what comes down, bounces! Are
I’ve read that more millionaires were created in the few short years of the great depression
than in ALL of the time since… combined! During the largest economic downturns, there
are always plenty of opportunities waiting for those who look through the clouds, and
Because of the stiff lending limits, banks tightening their purses, and loans for the
“average guy” hard to come by, we’ve been treated to a nation of people desperately
seeking creative terms (cough: rent to own: cough) to get into a home.
Record foreclosures have primed the pump for short sale investors, as well as REO flippers
and rehabbers… and if your model includes long term buy and hold, you’ve hit a bigger
jackpot than the Lucky Charm leprechaun in the Emerald City on St. Pat’s Day! Due to
increased numbers of renters and the lower price of houses, it’s easier than ever to
buy a house and rent it for $500 to $1000 per month in cashflow!
The low returns and fear of the unknown future have people with cash reserves fearing traditional
places to stash their dough. This scenario has provided us with the best (and easiest)
opportunity to find private lenders than I have seen since I got into real estate. More
people are willing to sell with owner financing and other creative methods than any time in
recent history… I can go on and on and on… So what’s the bottom line?
You and I are poised for wealth… if we decide to take it! Investors with proper training
and well-timed strategies, who do solid research and use a dash of creativity, are poised to
have best years of their lives.
Are you ready to join Lucky in the Emerald City? If so, I’ll see you there in real
estate investor online…