DONT STOP! I had someone ask me the other day if I thought the market was getting better or stronger? I opened my mouth and immediately said...I think we are getting better and stronger The market is still flat....but, we are getting in tune with whats up and how to deal with it in a more positive, successful way!!! We are understanding short sales; loan modifications; appraisals; credit issues; days on market; marketing via all the choices that are out there for us; financial alternatives such as private money, seller carry, lease options, cash, etc.; REOs......on and on.. Weve had a lot to wrap our heads around here within the past several years and we are coming out on top. Realtors are still the best game in town to handle Real Estate transactions....we have our ears and sometimes tails to the ground on a daily basis...its tough...its rough...its still rewarding. Over my past 30+ years in this business...I say, THIS IS A TIME FOR MY BOOKS ! Never before have I had such challenges and a rush of new things to learn, absorb, and implement...Its fabulous. Over the past 18 months my partner and I have purchased, rehabbed, flipped, held, rented, all the above...with no money down, using private money, created cash flow...with 26 properties...what a blast! Its been a WIN>>WIN>>WIN>>>WIN for everyone involved! The private lenders loaned us the initial money to purchase at a 10-12% interest rate with a couple of points up front which allowed us to get in to the property with no money down and have a few dollars to fix it up. Once fixed/renovated/rented, we were ready to capitalize on the new income stream (in the case of income property), improve the condition of the property and then either refinance with new private money at 8-9% taking our profit in the refi...or, put them on the market and gain a profit and go on from there! Our goal is 200 properties in the next couple of years...cash flow is KING for us right now and plain ol creating our own appreciation by our age old skills of knowing Real Estate... YES! THIS IS A TIME FOR MY BOOKS ! My song of the decade is, DONT STOP BELIEVING...I guess its been my song for the past 30 some years! Dont stop! Robin
Posted on: Tue, 03 Dec 2013 17:50:09 +0000
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