Jim Kramer announced this morning on the Today show that the recession is over? Is it? Not really sure, but one thing is certain – housing prices are not going up. Foreclosures are still up from last year and housing prices may continue to sag in some parts of the Country. However, this is still a great time to buy because you can get discounts of 30-50% off retail and finance with historically low interest rates. Nobody rings a bell at the bottom of the market, and once the newspaper headlines say “Real estate is back” you are about a year too late.
What’s working in today’s market? Three things:
1. Buy and Hold Long Term. If you purchase at the bottom of the market AND at a 40% discount off retail, it’s hard to go wrong. Over 10-20 years you will accumulate serious appreication, wealth, and cash flow. (more info –>>> http://www.buyandholdrealestateseminar.com)
2. Buy and Flip. Despite the morons in the media, this is a great market for flipping houses. Buy low, sell low. The low end of the market (starter homes) are in short supply and demand is high for these homes. Buy at 60 cents on the dollar, fix it up, sell for 90 cents on the dollar and you can’t go wrong.
3. Owner Financing. Selling houses with owner financing is an excellent way to create cash flow when banks aren’t lending. Buy a property, fix it up, sell for FULL price with a wraparound land contract. There’s no management headaches, but the checks come in every month!
