Real Estate During A Poor Market
First let's establish a few ground rules for this article.
1) Bad markets have happen before...and people still made money.
2) Not every deal will fall into a cookie cutter format.
3) Not every tactic or idea works in the same in every part of the country. ALWAYS check local laws pertaining to real estate transactions.
The above being said let's move on.
Just because a drop in the market has taken place doesn't mean that you, as a real estate investor/professional, are out of luck. It only means you need to add new tricks and tools to your tool box. (Be warned I use "tool box" a lot.)
Finding Deals and Marketing property
Besides the normal channels of real estate agents and brokers (still the best way to find good investments in my opinion) you have a vast amount or resources at your fingertip with the Internet.
You can find and join website communities for investors, follow blogs, get in on group discussion etc. All of these things can lead to new and interesting deals.
Some of my best investments have come to me via a web community contact. I also have gotten countless tips from other investors on investments and financing issues. Do not over look the value of belonging to an "investor community website."
I honestly feel that in the upcoming years the majority of investing will shift to being web related. Not just in finding investment projects but in doing the research for them as well as the funding process and the majority of the marketing/exit strategy as well.
Finding financing
Right now we are hearing everyday about how the current market and credit crunch is making getting loans harder for everyone. This is currently a fact. No way around it. The loan process has changed. So what options are left?? The answer is several.
Lease options. Assumable loans. Seller financing. Just to name a few.
The above mentioned will become the big trends in the next couple of years. I am waiting to see the lenders change the loan guidelines in the next few months to "re introduce" the assumable loan. We are already seeing a HUGE trend in short sales. (This was a practice that was used only in limited capacity in the last 10 years by most lenders now it seems like every other distressed listing is a short sale in some cities.)
Please don't let the current market conditions scare you in to sitting this investment period out. Take the time to do the research on finance options, look into building a LLC perhaps. Find out about buying real estate with your IRA. Etc, etc.
Read investment the strategies of the big names in investing. Buy books build your investment library. Use the time to educate yourself and above all be creative.
Don't run for the hills when you should be shopping in the valleys. - 23167
1) Bad markets have happen before...and people still made money.
2) Not every deal will fall into a cookie cutter format.
3) Not every tactic or idea works in the same in every part of the country. ALWAYS check local laws pertaining to real estate transactions.
The above being said let's move on.
Just because a drop in the market has taken place doesn't mean that you, as a real estate investor/professional, are out of luck. It only means you need to add new tricks and tools to your tool box. (Be warned I use "tool box" a lot.)
Finding Deals and Marketing property
Besides the normal channels of real estate agents and brokers (still the best way to find good investments in my opinion) you have a vast amount or resources at your fingertip with the Internet.
You can find and join website communities for investors, follow blogs, get in on group discussion etc. All of these things can lead to new and interesting deals.
Some of my best investments have come to me via a web community contact. I also have gotten countless tips from other investors on investments and financing issues. Do not over look the value of belonging to an "investor community website."
I honestly feel that in the upcoming years the majority of investing will shift to being web related. Not just in finding investment projects but in doing the research for them as well as the funding process and the majority of the marketing/exit strategy as well.
Finding financing
Right now we are hearing everyday about how the current market and credit crunch is making getting loans harder for everyone. This is currently a fact. No way around it. The loan process has changed. So what options are left?? The answer is several.
Lease options. Assumable loans. Seller financing. Just to name a few.
The above mentioned will become the big trends in the next couple of years. I am waiting to see the lenders change the loan guidelines in the next few months to "re introduce" the assumable loan. We are already seeing a HUGE trend in short sales. (This was a practice that was used only in limited capacity in the last 10 years by most lenders now it seems like every other distressed listing is a short sale in some cities.)
Please don't let the current market conditions scare you in to sitting this investment period out. Take the time to do the research on finance options, look into building a LLC perhaps. Find out about buying real estate with your IRA. Etc, etc.
Read investment the strategies of the big names in investing. Buy books build your investment library. Use the time to educate yourself and above all be creative.
Don't run for the hills when you should be shopping in the valleys. - 23167
About the Author:
Doc Schmyz has invested all over the US. He built a free website shares Real estate investing information for all over the US. Find Real estate investing information by state
posted by X - Men @ 4:58 AM
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