Economic Depression...
What does it mean?
Everyone is taking about it!
I really see this Economic Depression differently than most. For my industry it seems to be a good thing. I am a commercial finance specialist and consult with small to medium sized companies. These tough times have really boosted investment.
A lot of my clients who had been buying larger buildings have really moved to buying these residential bank owned properties. They are making a killing and I help them get their money so I am doing well. The buzz in the Twin Cities, MN metro is the commercial rehab mortgage loan for residential real estate. At some point this will end.
What has been talked about lately is the next wave of bank foreclosures to take advantage of... COMMERCIAL REAL ESTATE!!! Some say we might see as much as a 300% to 400% increase in commercial foreclosures in the next 12 to 18 months. If this is indeed true I guess I know what type of commercial loans I will be helping my clients with next year. COMMERCIAL REHAB LOANS on this new wave of foreclosures.
There is always money to lend to qualified borrowers. It may be more expensive to get commercial mortgage loans but that is the cost of doing business.
We made it through tougher financial times in the past and we as a country can and will do it again!
This economic depression has made me appreciate a simple life and made me more focused on my career. I think good things can be born from rough times.
Dax Dickson
612-578-9898
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