Ever wonder what gives Warren Buffet and other successful investors the golden touch. What genius lies beneath their success? Most will tell you that it is a matter of timing and preparation. They tend to enter the market at a time when others are afraid and take advantage of the many tools then available to them. Purchases large and small are made in difficult economic times with previously unheard of terms.
Yes, we are impressed by the multi billion dollar transactions by the Trumps, Gates, and Buffets accomplished with very little of their own money and receiving big tax benefits, but very few realize how many of these benefits are available to those of us who are not billionaires.
For the first time buyer with a job and decent credit, real estate prices and financing have never been better. One can purchase a home right now with as little as 3% down payment recieving as much as 3.5% for closing costs. Financing is available with a small down payment for the owner occupier to purchase a fixer upper and receive the money for repairs as part of the purchase loan. You can find out your purchasing power by contacting Manny Solana at California Commercial Lending. The toll free number is 877-444-4738
Investors will find excellent opportunities in single family starter homes. The huge amount of foreclosures have placed a large number of otherwise well qualified tenants into the marketplace and escallated rents. Many of my clients have taken money from cash accounts where thy were earning less than 3% on long term holdings. They have purchased a small rental home and are experiencing between 4% and 8% cash on cash with tax shelter and potential for appreciation of the asset.
No, you don’t have to be a billionaire to take advantage of bad economic times. You simply need a bit of courage and education. I have no doubt of the economic education of Warren Buffet and I admire his courage for investing $5 billion in Bank of America when most are hoarding their cash. As I understand it, he was awarded a very lucrative deal.
Most of us can’t buy $5 billion dollars worth of Bank of America, but for those with a little courage to take advantage of the opportunities that have recently afforded themselves, the future will be very bright.
If you are interested in pursuing some of these opportunities, please call me at 818-903-9039.