Values tumbled in the first quarter of 2008. The median price for a single family home dropped 7.7%. That's the largest drop in 29 years, according to Kathleen M. Howley of Bloomberg.com. If you have a $150k house, there's a good chance you just lost about $11k of equity in your home.
While this freaks a lot of home-owners out, it should excite investors. Real estate investors know that prices are dropping. This means that opportunities for cash flow are abounding. While people are losing their jobs, being raped at the pump, and struggling to keep up with their bills, wise investors are building income through solid cash flowing rental properties.
What about you? With the dollar on the decline, what are you doing to secure your retirement? I've spoken with so many investors over the last several weeks and months who have lost money in their 401k. Do you have your money in something that will even yield a return? If you lose value in your property and in your retirement, what will you do?
Start thinking about how you're going to take the next step. Don't wait for money to start growing on trees, because with the economic outlook these days, you may not have the money to water that tree anyways. (just kidding)
Seriously, think about ways to invest in good property now, while prices are down. Don't let your retirement savings slip away while you aren't paying attention.
(If you're interested in looking at how the numbers should look when you're buying a property, check out this post. It breaks down the numbers on a property here in Indianapolis and compares it with one in California.)
Tuesday's Tip: Money doesn't grow on trees. Invest wisely while the market is down.
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Money does not grow on TREE'S, but your clients can get it, if they pick it! Get an unsecured Line of Credit in 10 to 12 days!
Qualifications:
•- Your business must be incorporated for a minimum of 2 years and Registered with the State. This can be any company. Example #1- My Husband incorporated an investment property 3 years ago for tax purposes, This would work for us! Example #2- My wife has a 689 credit score, she has a business that she runs out of the home for a cosmetic line, This would work for US!
It does not matter what the Company is currently Incorporated "for", Because the Money can be USED for ANYTHING! We are not a bank, so we will not audit you EVER again (as long as you pay your bill of course silly!)!!
•- Must have a 680+ credit score from all 3 bureaus
Stated Program:
•- Up to $350K Line of Credit
•- 2.9% - 7.9% FIXED Interest Only Rates - 20 year AM
•- Copy of Drivers License
Full Doc Program:
•- Up to $1M Line of Credit
•- 2.9% - 7.9% FIXED Interest Only Rates - 20 year AM
•- Requires 2 years Business & Personal Tax Returns
•- Copy of Drivers License
Personal Program: Line of credit available up to $150K
Fees: $399 Processing fee (after we pull your credit)
18% to 30% ONE TIME Consulting Fee instead of Hard Money Points that get charged OVER and OVER and OVER for every single property that you will buy!!!!!
NO ADDITIONAL CHARGES APPLY - EVER!
No recurring Costs -- No more 3-8 point to the hard money guy! -- No more 12% - 18% interest!
Go Get'em Derek!