It’s Time for Creative Real Estate Investors to Get Rich
What is so special about real estate as an investment vehicle, as a way to get wealthy, as a way to create passive income and retire young and rich? Why is this market so different? Why is this an advantage to the creative real estate investor?
Let’s look at two different areas. One is credit and the other is loans. Consumers have spent way more on credit cards than they should have. The banks have also lended way too much money for homes that are worth much less than the purchase price. Now the debt and loans are not being paid back.
The lending practices in the United States have made it easy for anybody in any condition with any financial history to borrow money – in many cases more money than they could afford to pay back. So right now in the housing market, whether it is single-family homes, condos, or multi-family properties, there are more defaults, more foreclosures than ever before.
Want to talk about Short Sale opportunities? More and more banks are being required to take back homes. Also, more and more people are filing for bankruptcy. Freddie, Fannie and many other government-backed loans are going sour ever day.
The number of homes selling below market value is at an all time high. Because so many people are in a bind and can’t sell their homes when they need to, it’s a buyer’s market. That means we have Motivated Sellers. With so many options, it should be much easier to find a profitable deal.
The old adage about real estate goes you make money when buying and get paid when selling. Maybe money finds its way to your bank account when selling real estate, however, intelligent transaction engineering will afford you many exit strategies. If you buy your properties the wrong way, you may end up with one or NO options. That being said, the primary focus for a real estate investor is cheap properties and seller motivation.
A great advantage of investing in real estate is simply that there are plenty of buyers out there and more coming every day if you know how to locate, prescreen and close them. Unfortunately the credit crunch is making it difficult, and in some cases impossible, for them to get financing. The creative investor will be able to capitalize on this market. Creativity and knowledge will let you step in where the bank used to and you’ll be paid handsomely for it! What if you could offer owner financing with your properties? What if you could sell to anyone with either cash or credit?
Isnt that amazing? If the prices are so low and the available homes for sale so high, why cant a buyer just find these deals on their own? Nine times out of ten, they lack the knowledge required to execute these transactions. Now you have the knowledge, so get moving!
