SMART INVESTMENTS. 
When the going gets tough the investors buy.Have you read Rich Dad's series written by Robert Kiyosaki? It's amazing and profitable. What I can find by his teachings is that they are governed by YOUR states' mandates. He and his wife Kim are great. They are a success story from the heavens. They are people that you want to aspire to be like.
They teach you how they became rich. I am not one of their REPRESENTATIVES. I just read it. It' worthy. It will teach you. I am simply a voluntary student. My husband pushed the books on me. Now I'm glad.
Get it.
Use it.
Believe it and don't be afraid.
And, here's the dig. When the economy is down is when the "okay" get richer. My husband and I are "okay." We are not rich as we work for every penny brought into this household. But, let me give you an example of what you can look for.
Country Club Community: This is one the richest aspire to and the "not so rich" do without to be in...well, I'm not going to do without. That is... I won't do without the important things. Food, clothing, energy, gas, medical and good credit.
Remember you can't do just about anything in this market today without GOOD credit.
If you have good credit and look for the good deals you'll find them.
We have just gone to one of the most affluent neighborhoods in East Texas and we found a foreclosure. No one wanted to deal with it.
When you have $350,000.00 to spend for a house in Texas you at least want to move into a move-in ready home. Now, this may not sound like much for the West Coast.
But, you Californians...what you spend a million for there, I can sell you here for $300,000.00 today! No exaggeration.
Think of new comparables. Our area is just as weak or strong as you want to call yours. A million dollar house here is in the top 1% of all of Texas homes sold. Our homes are not less than what you have but we are with a different cap rate and economic level.
Today I placed an offer on a 3,300.03 square foot home on the golf course at an affluent Texas neighborhood and (Lord willing) will receive an acceptance for about .50 cents on the dollar. It's a fixer upper.
Our bank (with good credit) will allow us to purchase (with written contract), and place $30,000 to $40,000 thousand into the remodel. We are really using the bank's money. It looks like we're using it on paper. We will begin with an appraisal for the existing building and the purchase price compared to the retail. In comes the appraisal...for the "as is" at $200,000.00.. Say they give us $30,000.00 for the remodel. The same house after the remodel will appraise for $350,000.00. You then have $120,000.00 in equity.
The banks in Texas can loan 70% of the total retail (appraised) value and that comes to $87,750.00. If you subtract the $87,750,00 from the balance of $245,000.00. Our total balance is $157,250.00.
This is the equity in the house at the point and day of the financing! Your total of 15% down then is equivalent to $30,000.00. If you take $30,000.00 from the equity (appraised) value of $157,250.00 you end up with $127,000.00 in instant equity. Your 15% will have been credited as "down" and we will have a new home. Not to mention we will be living in one of the most affluent neighborhoods in East Texas....now, that's what I call "investing".
I thank you for listening. Later in the rain~Deb
Click Wyatt Hunter to subscribe...great grandbaby , Huh?____>>>
Wyatt Hunter Yeager Slaughter
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