The WMD'S of the Real Estate Business

Yes, I know the headline sounds scary, but before you run and hide in your pre-built survival shelter you need to know what WMD's I'm talking about. It's not the ones you read about in the paper. Yet, these are very destructive too. In fact, it's not Weapons of Mass Destruction at all. These WMD's are right here in America and their doing a lot of damage to the economy and the real estate business. I call them WMD's which I think should be short for Woeful Mortgage Devices. Yes, those no-doc, adjustable rate, no anything practically mortgages that proliferated all over the country just a few years ago that allowed people to buy homes they probably couldn't afford. Well, somebody tripped the firing pin on these things and now we have a mess. We have people all over the country who can't make their payments once their teaser rate goes away and their new reality rate cranks up. This dumping of foreclosures back onto the market in such large numbers is bad news for the economy overall and bad news for real estate overall. BUT, not if you're an investor. Everybody from Donald Trump to me are telling you to buy, buy, buy - right now! It's an incredible time to negotiate deals with lenders and sellers for better prices, something we couldn't do much of before because prices were going straight up to the moon. It's also a great time to owner finance and get top dollar because who can get a mortgage these days? People gotta live somewhere; that part is not going away. So, get out of that shelter now. Find out who's got foreclosures available to sell, make offers, negotiate hard, learn how to do a short sale, get properties for pennies on the dollar and not only survive the WMD crisis but come out on the good side of it.

Robin's Rule # 26: If you can't tell the difference, it'll be too late when you do.

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