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“Dumb enough to be rich.”

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Mortgage and Lending with C2 Financial NMLS #279125

This is a very interesting read and some startling stats about foreign investors in the marketplace.

Original content by Larry Lawfer MA# 9517963

Bill Barnett is an author, radio show host, and speaker, but most importantly he is a Realtor, investor and family man.  This weekend I traveled to Fort Worth and the DFWREIClub meeting to listen to Bill speaks on the subject “How to thrive in today’s real estate market.  This is a fascinating topic right now due to a number of factors.  The interest rates are at a low that we will never see in our lifetime.  There is a good bit of inventory on the market to pick and choose from.  Bill called this the best market in 80 years and the investors are here.  It is an interesting statistic to know that foreign investment dollars are flooding our market.  Canada, our neighbor to the north, is leading the way with two thirds of the foreign money spent here in the US coming from them.  The inventory, which is at normal levels with a 4.5 months level, has ballooned to 8.5 months, but what makes it more interesting is that new home starts and sales are at a record low right now.  Bill believes there will be a shortage of these homes in the next 2 to 3 years due to this circumstance.

To thrive in this market Bill suggests that you have three ideas going in which are the right location, right price range and the right exit strategy.  He shared a story with us of how it was close to Christmas one year and he decided to buy his wife a new car.  Without the cash to buy the car in his hands and no intention of buying the car on credit he turned to his skills as a realtor and went out and bought and flipped some properties to get the cash.  It was at dinner with his wife a couple of weeks after that that he realized his exit strategy cost him over a hundred thousand in profits.  Because he needed to move the properties based on the strategy to pull just enough cash out to purchase a car, he left way more on the table.  Had he thought the situation through he could have bought the car in another manner made the extra hundred thousand and paid the car off.  Oh, to live with this problem.

I love going to meetings and our area always has a range of great ones to attend each week.  I like Robin and Greg and the way they run their meetings.  Lots of great information about investing is shared and discussed.  The investors are willing to open up on their deals and talk about what is working and what isn’t.  They also give gifts away.  I won one of the two books that were given away.  I have already begun reading and am excited to have Bill so close for a follow up conversation.  Now is the time to get on board with building wealth, which is greater than just building income.

Larry Lawfer

Realtor®

Director of Marketing

EXIT Realty Metro Dallas

larry@lawfer.com

972 322 7776

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Deborah "Dee Dee" Garvin

NMLS #279125

 

 

If you are looking for answers and creativity to accomplish your home buying goals and financial stability, contact me for a thorough analysis of your current and future home buying and refinance opportunities.  FHA, VA, renovation expert, HUD Certified First Time Homebuyer Certified Mortgage Banker.

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