I took a phone call the other day from a Realtor that has brought me many deals. He was asking if I'd loan him some money while he waited for some deals to close. I was taken aback by that because, although I know that Realtors are hurting as a general rule, I did not realize this particular Realtor would be hurting as he was and is a high producer. It really set in me the reality that the economy is definitely affecting people close to me business wise and it is possibly deeper and longer term than I maybe wanted to believe. Good reality check as there is probably a segment of society that is rather insulated from the economic strain and doesn't know what the big deal is.
I know many investors not positioned right have been hurt and are hurting. Vacancy, over leveraged due to property values sinking, cash flow not there as rents are clawed back a little or property location as renters trade up for better areas and better properties.
There are however opportunities to take advantage of as in any market. Maybe more so in this market and with all the newbie investors I've met in the past few months are any indication then many people are saying its time to get in.
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