Will the Cyprus Effect Bankrupt American Realtors

Is the ‘Cyprus Effect’ about to cripple your real estate business?

If you’ve been dozing behind the screen for the last couple weeks, an economic collapse in Cyprus resulted in the government shutting down banks for 2 weeks; only reopening on the agreement account holders can access a maximum of $383 per day.

Even though many international investors and wealthy individuals chose Cyprus as a tax haven for registering their offshore corporations this financial catastrophe might seem far away for most U.S. Realtors.

Don’t get suckered into a sense of false security!

This could easily happen here for anyone of a variety of reasons from continued hacking attempts by foreign armies, a new recession on the revelation of poor economic growth, a nuclear attack by North Korea or major hurricanes.

Don’t get caught in a cash crunch!

Diversify your bank accounts, have plenty of cold hard cash stashed in the safe and keep your marketing rolling so that you keep fresh money coming through the pipeline.