OK a few ground rules for this article first.
1) The market has had slumps before...and money was still made.
2) Not every deal will fall into a cookie cutter format.
3) Not every tactic or idea works in the same in every part of the country. ALWAYS check local laws pertaining to real estate transactions.
Ok...now on with the article.
So the market has taken a big drop this doesn't mean that you, as a real estate investor/professional, are out of luck. It only means you need to add new tricks and tools to your tool box. (Be warned I use "tool box" a lot.)
Finding Deals and Marketing property
Besides real estate agents and brokers (still the best way to find good investments in my opinion) there is a huge amount or resources at your fingertip with the Internet.
You can find and join website communities for investors, follow blogs, get in on group discussion etc. All of these things can lead to new and interesting deals.
Some of my best investments have come to me via a web community contact. I also have gotten countless tips from other investors on investments and financing issues. Do not over look the value of belonging to an "investor community website."
I truly feel that the future of investing will be web related. Not just in finding investment projects but in doing the research for them as well as finding the funding and the marketing/exit strategy as well.
Finding financing
Everyday we are hearing about how the current market and credit crunch is making getting loans harder for everyone. This is currently a fact. No way around it. The loan process has changed. So what options are left?? The answer is several.
Lease options. Assumable loans. Seller financing.
The above mentioned will become the big trends in the next couple of years. I am waiting to see the lenders change the loan guidelines in the next few months to "re introduce" the assumable loan. We are already seeing a HUGE trend in short sales. (This was a practice that was used only in limited capacity in the last 10 years by most lenders now it seems like every other distressed listing is a short sale in some cities.)
Do not let the current market conditions scare you in to sitting this investment period out. To the contrary use it to inspire you. Take the time to do the research on finance options look into building a LLC perhaps. Find out about buying real estate with your IRA. Etc, etc.
Buy books. Read investment strategies of the big names in investing. Use the time to educate yourself and above all be creative.
When everyone is running for the hills it is your time to figure out how to buy the valley they just left.
1) The market has had slumps before...and money was still made.
2) Not every deal will fall into a cookie cutter format.
3) Not every tactic or idea works in the same in every part of the country. ALWAYS check local laws pertaining to real estate transactions.
Ok...now on with the article.
So the market has taken a big drop this doesn't mean that you, as a real estate investor/professional, are out of luck. It only means you need to add new tricks and tools to your tool box. (Be warned I use "tool box" a lot.)
Finding Deals and Marketing property
Besides real estate agents and brokers (still the best way to find good investments in my opinion) there is a huge amount or resources at your fingertip with the Internet.
You can find and join website communities for investors, follow blogs, get in on group discussion etc. All of these things can lead to new and interesting deals.
Some of my best investments have come to me via a web community contact. I also have gotten countless tips from other investors on investments and financing issues. Do not over look the value of belonging to an "investor community website."
I truly feel that the future of investing will be web related. Not just in finding investment projects but in doing the research for them as well as finding the funding and the marketing/exit strategy as well.
Finding financing
Everyday we are hearing about how the current market and credit crunch is making getting loans harder for everyone. This is currently a fact. No way around it. The loan process has changed. So what options are left?? The answer is several.
Lease options. Assumable loans. Seller financing.
The above mentioned will become the big trends in the next couple of years. I am waiting to see the lenders change the loan guidelines in the next few months to "re introduce" the assumable loan. We are already seeing a HUGE trend in short sales. (This was a practice that was used only in limited capacity in the last 10 years by most lenders now it seems like every other distressed listing is a short sale in some cities.)
Do not let the current market conditions scare you in to sitting this investment period out. To the contrary use it to inspire you. Take the time to do the research on finance options look into building a LLC perhaps. Find out about buying real estate with your IRA. Etc, etc.
Buy books. Read investment strategies of the big names in investing. Use the time to educate yourself and above all be creative.
When everyone is running for the hills it is your time to figure out how to buy the valley they just left.
About the Author:
Doc Schmyz has invested in Real estate all over the U.S.. His website gives hundreds of investors up to date real estate investing information Get more info from across the U.S. on Doc's real estate investing resources page.
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