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What is Working Successfully in the 2010 Real Estate Market? (Part 1)
A tough question. In this "great recession" , so many people are looking for answers right now. How can I succeed in a market like this? I for one don't have all the answers. But I have been fortunate enough to be in a position where I constantly get to watch and speak with real estate people from all walks of life. Many are struggling and trying to figure out how to turn their ship around. Many are seeing reasonable success and making a decent living. And a few are amassing a small fortune right now. Of the people I see that are succeeding, this is what I see them doing. Foreclosures - but more specifically, properties that are being moved from a position of no equity to a position with equity. Anybody that bought a property between 2004 and 2007 is probably in a position where they have little to no equity. There is no money to be made on those properties except in the long-term UNLESS they are converted into properties that have equity in them. If the property is upside down and has no equity, you cannot do much with creative financing or lease option or subject to or ... more
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