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It’s a good thing many of today’s investors aren’t back in elementary school. In no time, they’d be diagnosed with ADD-Attention Deficit Disorder-handed a Ritalin prescription and told not to return until they popped a few pills.
Whys that? Because today’s investors have notoriously short attention spans.
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Today, our current president, George W. Bush, finally used the r-word. (Recession)
With massive job losses, financial institution collapses, auto industry implosions and a credit crunch not seen for many years, Real Estate woes are merely a small portion of America’s troubles right now.
But fear not!
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It’s getting pretty interesting out there! Rates are down again, but still no one is buying. Oh, wait a minute. No banks are lending…
Folks, debt reduction and smart investing are the two things that will save your Real Estate business and your sanity. Lease option agreements, cashflow positive properties and cheap acquisitions should be your focus during this trying time. Home builders like Beazer Homes USA are trying everything they can to book profits or “acceptable losses”. Creative tax reporting is also on the table. Go figure. Make sure your tax guy or gal knows real estate investing and not just 1080EZ forms.
Here is another idea for you: You may find gold by selling your cashflow positive properties to another investor. Some larger investors will even owner-finance some of these properties just to get another business in the door and the property out of their portfolio. Even at historically low interest rates from the Federal Reserve, banks are really stingy. It may be up to private firms, investors and “hard money” lenders to bail out the hard working business owners who did everything by the book and without excess.
Keep the Faith and Reduce your Debt! Trust me on this…
-Richard - The FlipBoard.com
While looking over my businesses and investment holdings this morning, I experienced an epiphany. I carefully gazed up at the television screen and noticed a huge run on Wall Street to the tune of 500 points. (The DJIA actually fell over 800 points before recovering.) There was panic in the news reporters giving the scoop. Panic was found on DrudgeReport.com. There was Panic everywhere. Read more »
Small to midsize businesses have really taken the brunt of the national economic slowdown, much more so than their Fortune 500 counterparts. The banking, construction, auto and retail sectors are hardest hit, while other areas like health care, education and the federal government are doing better. Business leaders are closely watching existing assets and ensuring they are getting the best use out of them. This includes real estate, both commercial and residential. The difficult period we are in currently has caused us to become better stewards of what we buy and use. Just look at the number of forced sales of real estate across the board, if you want proof.
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America’s out of control, drowning in debt, gorging: $75 trillion and getting worse. Now we’re dumping Fannie and Freddie on America’s balance sheet. Every year we pile trillions more on future generations. Can’t trust McCain? Obama? Time for new leadership! The best qualified for president is the same great American hero we picked as our favorite write-in candidate for the 2006 elections: David Walker, former comptroller general, chief auditor of the U.S. Government Accounting Office for a decade before resigning last spring. He is ready.
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Not making the money you want in the stock market? Vacancies up in your properties? Try REITs!
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We’ve seen the trend for some time.. increasing default notice combined with less likely possibility that someone in default gets out of it. I can’t imagine what things would look like in a year if defaults and foreclosures increase from here.
The good news is that these REO homes are helping the housing market rationalize much quicker than it would normally. But I think we will start seeing the add in reports from DQ saying how many home owners sold their homes for a loss which was a regular feature to the reports in the mid-90’s.
Hold on for more gang! We haven’t hit the bottom just yet.
These indicators were collected from many sources such as economicindicators.gov, realtor.org and the national census. They don’t seem that bad after all. For you investors who are looking for deals, there may be quite a few left!
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WASHINGTON, April 01, 2008 - Read more »
As America celebrates the 40th anniversary of the passage of the Fair Housing Act this month, Realtors® continue to be outspoken advocates for fair housing, working with home buyers and sellers to ensure they receive equal access to affordable housing and homeownership.
