Tuesday, February 03, 2009

Help! I've Fallen and I Can't Get Up

So...now what? The economy is tanking; o.k. - tanked, and Real Estate is in the throes of an agonizingly painful housing downturn. So you're thinking I guess the only thing worse would be to have a train run over me. Well, don't quite despair yet, grasshopper. Just because the market is down doesn't mean it's out. You see, Real Estate isn't going out, it's just that the baseline approach ain't working so it's time to serve and volley. Change your tactics. Go to something that doesn't require ANY bank approval for goodness sakes. Credit is tighter than Dick's hat band. Wholesaling with cash Investors, lease options and subject-to's all come to mind as startgies to apply right now. Real Estate is finite. Therefore, it's going to continue to be worth something. Your house is not going out of business(unlike some businesses we have seen lately). It's keeping it's worth and it will possibly be worth more. Hang in there and don't sell if you can avoid it because the market is low and you'll likely take a hit right now. It will come back around. We're in a cycle and in Real Estate they come and they GO. And when it does go, you can say I kept my cool and now I'm going to make my profit. In the meantime explore new vistas, try new strategies, and widen your sphere of capabilties. Who knows, you may need them the next time this happens.

Robin's Rule # 14: Whether You Think You Can or You Can't; You're Right

Remember, if you need an Investor partner, mentor or consultant, or you're an Investor looking for deals; go to my website at http://www.robinscott.com/ and sign up on the Contact Us page. Let me know what you are looking for. We Wholesale properties in and around Memphis, TN.