Thursday, June 14, 2007

The Price Is Right!

With the Real Estate market currently in a downturn for sellers, there has never been a better time to be a buyer. The deals out there now are numerous and there's more on the way! This is the time to load up on undervalued, distressed property. And, believe me, there is a lot of distress out there right now. Adjustable rate mortgages that helped put so many people in homes, are now coming back to haunt them like Marley rattling chains at Scrooge's bedside. This all means deals abundant for you. Properties are going back to lenders faster than you can say foreclosure. The distress is everywhere - distressed home prices, distressed owners, distressed lenders, distressed speculators. But, if you've followed my principles of buy low-sell high; you're sitting in the king's chair. Buy low-sell high is a simple fundamental economic principal that will endure through the hardest of times. Therefore, with prices hitting new lows, this is the time to buy, buy, buy! As prices tank on properties, you want to go in. As owners lose their homes to foreclosure, you want to get in there and make a deal that could benefit you as an investor and everyone else involved too. As properties sit on the market longer, you want to sharpen up your negotiating skills and start asking for concessions. As inventories of foreclosed properties swell to gigantic proportions, you want to increase your buying power and spend that money. The market will return and when it does you'll once again be in the king's chair as you benefit from the appreciation that brings the market back and the profit you so skillfully created by buying under the real value. Remember that word...created. Translated, it means do your homework, learn what you need, and buy right. This is not a market where you can buy stupid. By that I mean like all these speculators who knew nothing about real estate but decided to buy properties at the top of a white hot market just knowing it would appreciate into infinity. Oops. Now is the time for you to go in and put them out of their misery. And, believe me, there is plenty of that to go around. By the way, you also couldn't find a better time for wholesaling as the market gets plentiful with eager investors ready to get in the game. So, get out there now and spend some doggone money!

Robin's Rule # 36: Always buy your profit

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