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Taking Advantage of the Recession

Real Estate Agent with RE/MAX in the park

Eight times as many millionaires are created during recessions!  What an amazing statistic.  Historically, homes have reached rock bottom when the public opinion of the economy was at it's lowest and there were not concrete plans on how to resolve things.   In my opinion, we are at that point right now.  It's time to make that first time purchase, up-size from your current home or buy an investment property (or several).  Home prices and interest rates are low making it a unique opportunity to build some huge equity over the next several years. 

Having said that, make sure that whatever you buy fits into your financial capabilities.  When you calculate that monthly payment make sure to estimate accurately what utilities, cable, repairs, maintenance and updates will cost.

Real estate runs in cycles and those that purchase properties over the next year will likely reap major benefits over the next 5-7 years as things rebound.

If you are a Real Estate Agent, please recognize there are huge opportunities in Short Sales, Foreclosures, Investors (if you don't have any investor clients then create them), Investing in flip properties personally and in helping all types of buyers.  A large percentage of Realtors have left the business making it a great time to build your database of clients & your referral sources.

If real estate isn't your thing then maybe it's time to acquire that business (at a fraction of the price) or make other moves to take advantage of the economic shake-up.  

Choose not to ride the negative wave of despair and create your own path to prosperity.   Identify your dreams & vision, set goals and go out and make it happen.   Remember, you get rewarded in this world based on what you do and not on what you know.  Not that you shouldn't prepare and learn but ultimately you will have to start taking steps to get from where you are to where you want to go.  Many things will have to be learned along the way.  You will need to have faith and determination but you will ultimately get there if you believe and take action.  You are responsible for your destiny and the amount of wealth and happiness in your life. 

In case you can't tell, I have been reading a lot of motivational books lately.  I do believe in what I'm saying though and have had tremendous success in 2008 and couldn't be more excited for 2009!  Good luck and here's a few quotes to help fire you up:

 "People are not lazy:  they just have impotent goals, that is, goals that do not inspire them."       

"Some people dream of success, while others wake up and work hard at it"

"Our limitations and success will be based most often on our own expectations for ourselves.  What the mind dwells upon, the body acts upon"

 "The only good luck many great people ever had was having the ability & determination to overcome bad luck"

"Excellence is attained when you care more than others think is wise; risk more than others think is safe; dream more than others think is practical; expect more than others think is possible"

"To be successful you must decide exactly what you want to accomplish, and then resolve to pay the price to get it"

"If you are willing to do more than you are paid to do, eventually you will be paid to do more than you do"

"Judge less and Listen more"

"The ultimate measure of a man/woman is not where they stand in moments of comfort & convenience, but where they stand at times of challenge & controversy"

"You can either make excuses or make money"

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