Ladies and gentlemen I hate to be the bearer of bad news, but the real estate market and economy are in the tank, with no sign of a quick turnaround. So why am I so excited? I am happy because now is the time to buy and hold properties. The house flippers and speculators are gone now. Savvy real estate investor can now buy properties at 70% of ARV and build up their inventory. Why are people not pulling money out of their 401K’s and IRA’s that are only earning 5% and invest in real estate? I guarantee you that in 10 years the return on buying and holding a property will be vastly greater than letting your money sit in an IRA. To me it is a no brainer. I am constantly looking for and finding deals all over the place. Foreclosures at an all time high and the banks are practically giving properties away to get them off their books. I mean they are losing $0.50 on the $1.00 to dump these homes as quick as possible. When people tell me that they don’t want to buy anything because the market is down, I want to slap them. Here is a simple economic lesson. You want to buy low and sell high. The people who say “now is not a good time to buy real estate” are the same people who buy into a stock after it has already gone up and wait until it drops to sell it. Get out there and start buying some properties. If you want to retire before the age of 65, you can’t afford not to.
It’s a new day, new deal, new opportunity
Mike Sebeniecher, Texo Properties (TexoNC.com)
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