My private real estate career started out after working for the largest sub-prime lender in the mortgage industry. I quickly learned that the mortgage loan "game" was lucrative but also full of greedy, unethical investors, attorneys, mortgage brokers as well as bankers.
After generating a buzz in the office for being the new kid on the block by writing mortgage business and making waves, I was approached by a group of Florida-based private real estate investors. Please note it was not REIC.
The investment group offered me $5,000.00 a deal for distressed homeowner leads, if they closed. "Wow" was all I could say. I immediately hit the phones making calls and the streets knocking on doors.This is were it all started for me!!!
Now with that being said..Having spent over 100,000 plus on my private real-estate business in time and money I decided to take another road and REIC was that path!!
Click here to get your Free Real-Estate buying guide!
Inside this complimentary book, you'll learn how to... - Line up unlimited funding for any deal
- Never be steamrolled by up or down markets
- Get tenants willing to pay you $1000s for a chance to buy your home
- Unlock retirement cash flow that makes 401Ks and IRAs seem like you're throwing away your money.
- Move quickly and profitably from one deal to the next
Your DVD Highlights
- How to Create a Residual Income
- What is Strait Path Real Estate?
- Rules to Buying Real Estate the Right Way
- Profiting Through Powerful Service
- Create reliable cash flow for life
- Why Banks are Failing Now
- How to Participate in REO's
Just a quick note.Passing through the Miami, Fla., airport a few weeks ago, I noticed people eagerly signing up for a free bus tour of foreclosed real estate -- with all properties offering water views. During the ride home, the young driver volunteered that he'd just bought his first house, paying $65,000 for a foreclosed property in nearby area that had last sold for more than $250,000. He said he'd never expected to be able to buy anything on a driver's salary, let alone something that nice.
Late last month, Standard & Poor's reported that its S&P/Case-Shiller U.S. National Home Price index of real-estate values increased this past quarter over the first quarter of 2009, the first quarter-on-quarter increase in three years. Its index of 20 major cities also rose for the three months ended June 30 over the three months ended May 31, with only hard-hit Detroit and Las Vegas experiencing declines. The week before that, the National Association of Realtors reported that sales volume of existing homes was up 7.2% in July from June.
In short, the data suggest that real-estate prices hit a bottom some time during the second quarter and have now begun to rise. There's no way to be certain that this marks the end of the long, painful correction that followed the real-estate bubble, but clearly prices are no longer in free fall.
That means if you've been sitting on the fence, it's time to act.
Trying to buy at a bottom is what we all try to do.Ordinarily I'd never try to time the real-estate market, but I can understand why buyers have been cautious. Few want to buy in down markets, just as stock buyers avoid bear markets. And for most people, of course, buying a house is a much bigger decision than buying a stock.
But with real-estate prices nationally now down about 30% from their 2006 peak and showing signs of turning up, the prices aren't likely to go much lower. Every real-estate market is local, and so there may be a few exceptions. Overall, though, I can't imagine a better time to buy than right now.
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