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I have to agree...if you already have money...RE is a good investment no matter what.
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Originally Posted by sidneylov23
I'm hearing a ton of wisdom, yet I'm still hearing weak advice. You guys have to turn off the CNN lol. The market is an absolutely beautiful condition for someone who is investing in Real Esate, it really couldn't get any more beautiful. The main issue these days is that no one can qualify for a loan, that has nothing really to do with the actual Real Estate. The bank has set down some hefty requirements due to the fact their have been so many foreclosures, and you gotta remember the banks make their cheddar off years of interest! So if someone has a house for two years and then goes into default, they are losing tons of money, and then they gotta seize these bad boys and get em sold, point blank they're losing.
Housing prices and Interests Rates are so low right now, if you have good credit, you are a very happy camper. But what about the people who don't have such good credit, are they going to sleep in a mini-van with their family? Of course not! That is where a good investor comes in! A good investor would acquire a couple properties right now, there are many way to do this. He would then put the family in a nice home in a great area under a lease with an option to buy when the contract is up. That'll be enough time for them to straighten their credit out. The investor makes a hefty wad of cash, and the family is happy in a house they love(of course their are more steps to the process, its simple but tedious). Voila! This is just one example out of like 20, that shows why some people are millionaires, and why some people just give up after they watch CNN.
Building wealth in Real Estate is more then going to Barnes n Noble and picking up a book, you need a mentor, someone who has been doing this thing for a while, someone who thrives in all markets. I'm confused, I thought a hustle was to buy low and sell high, why are so many people crying then! Real Estate is so damn sexy. I love it!
The main issue these days is that no one can qualify for a loan, that has nothing really to do with the actual Real Estate.
That has EVERYTHING to do with real estate.
The less people that can qualify for a loan, the less demand there is for real estate.