to get more people posting. This site is a ghost town, and its sad because I really used to LOVE posting on this site. I still check up 2-3 times a day, but I always see that theres 0 new posts. We gotta somehow to something.
I can’t speak for others here but I can tell you that I am SWAMPED with deals, have been for the last 5 months. I just DO NOT have the time the write much these days.
This business works like that…It all comes at once, then there’s a lull.
BUT…I have NEVER seen the opportunities I am seeing now…E V E R!
The next 2 to 3 years will be incredible for investors with CASH!
Amen, so glad I got a decent chunk of change to play with now. Thanks to that commercial deal FDJake helped me with!
The next 2 to 3 years will be incredible for investors with CASH
fdjake is %100 on the money with that statement…Only the very liquid investors are doing well now…
I too am inundated with collateralized deals and funding opps…There is so much going on if you know how to position yourself…
Sad thing is these boards give a direct correlation to the current RE investor market…They are dead…RE is out of fashion because easy to get money isnt available any longer…It should have never been that way…Now all thats left are the real investors who are liquid…It takes money to make money…Now that phrase is back thankfully…The past RE market (bubble) reminded me of the dot.com bust of 1999-2000…In the aspect that so many underfunded,uninformed investors piled into the market…Our society is to reliant on cheap money…
To stay on topic…I am swamped…Ive been talking to Fdjake alot…Lotsa deals,lotsa loans,lotsa opps…Position yourself accordingly for the next 7-10 years…These times are here to stay for a while IMHO…
Good to hear the next couple of years are going to be a investors dream, because hopefully within 6-12 months ill be ready to finally buy something. (after ive saved up 20-30K). Im more interested than ever. :bobble
Its just really disapointing to see this site have such little traffic because I LOVE the people who post on this site. Alot of good personalities.
Unfortunately, I’m not experienced in RE and I’m just busy with my work and trying to find other meaningful employment. Being a recent college grad blows chunks =(. I’m not making much money atm but I’m able to save 70%+ of my paycheck so hopefully in a few years I’ll be able to buy an investment property. I love all the advice you guys provide and I don’t mind if the post count is low as long as the quality remains high. I think the easiest way to keep activity up is to ask questions. The few times I’ve asked members questions through posts or pms they’ve always responded very quickly.
Josh,
What you should be doing NOW is setting up your NETWORK of “FINDERS”
I hate the word NETWORK when it comes to real estate, because it implies those BULLSH*T “teams” all the guru’s yap about…You know…The find a “really good Realtor” for your “team” (hint: in MY WORLD, really good realtor’s don’t exist…they’re called INVESTORS…Because a good INVESTOR can make 2 times more on ONE DEAL than a REALTOR makes in a YEAR) Don’t think so??? Ask Rookie and John-in-NC about their last few scores. BOTH these guy’s BURIED the average ANNUAL SALARIES of 90% of all realtor’s on ONE DEAL!
So…What YOU need to do is start talking to ANYONE you come into contact with that deals with ELDERLY people…THINK JOSH…Be CREATIVE…Meals on wheels drivers, oil delivery drivers, MAILMEN…ANYONE that see’s houses that might be coming up for sale.
Get your BUSINESS cards made NOW and GIVE them to these people…Offer a $2000 finders fee to ANYONE that brings you a deal that you close on. and stay in contact with them!
It’s going to take you a LEAST a YEAR to get this up and running…By then you should have found your first deal…Hell, if it’s GREAT DEAL (and I mean SMOKIN’) Uncle Jake might even FINANCE IT for you kid! (for 50% of the profit of coarse)
Before you even ASK…ANY deal you bring MUST meet the following criteria…It CAN NOT be listed…Now or at anytime in the last 10 years.
It must be in a decent area and must be priced at a MINIMUM of 50% below surrounding property. There out there…I’ve purchased 5 last month that met that criteria.
Get going NOW!!! and YOU keep us updated.
Will do Jake!!! Thanks. Just promise you will check up on this board every once and a while despite the traffic!
I think Hoosier4life2005 is on to something. Getting posts from us is really driven by posts from people that need help. There is a real drop off of people with questions about how real estate works. That has driven the number of posts down. I think the main reason for that drop off is that the easy entrance to real estate is gone. You can’t do this stuff with no cash no credit anymore so the knuckle head that asks should I get my real estate license or LLC first is not asking those questions and that leads to fewer of us having to give our opinion on it…lower volume.
Very true. Look at posts from 3-4 years ago and there are tons where people asked about “evaluate this deal.” Don’t see those on here much at all anymore. We rented out our most recently purchased house tonight. Only have one more rehab to do for now. Evicted a family and their date to get out is tomorrow by 5pm. They were inherited tenants from when we bought so I need to do a little bit to this one. After that, I’m looking to slow down some. We were pretty busy with a couple rehabs the past couple months so I’m glad things should be settling down.
Maybe there’s more traffic on gold buying websites?? :biggrin
LOL that is the truth!!
We used to get a lot of posts from people who thought they could use real estate to get rich quick. Those people seem to have moved on to something else. Not gold, because you can’t buy gold with no money down, lousy credit, and no income.
We are still seeing posts from people trying to get started, but all the folks who were busy inflating the bubble have moved on.
Yes that is true, gold is the new bubble. It amazing how you notice them now after uve been through one. However most people have very bad memories.
[i]We used to get a lot of posts from people who thought they could use real estate to get rich quick. Those people seem to have moved on to something else. Not gold, because you can’t buy gold with no money down, lousy credit, and no income.
We are still seeing posts from people trying to get started, but all the folks who were busy inflating the bubble have moved on.[/i]
Dont let the door hit them in the blank on the way out…Those no money down investors were horrible for this business…Everyone got hurt because of it…There is no business that you can go into with zero capital…Funny thing is now I see it from my business when you lend to people and hold their collateral whether it be free and clear real estate or the equity they purchased with their own money into the deal they climb mountains to pay you back…The key to finding solid deals is make sure you are holding the borrowers equity/money/collateral…This will solidify your position 10 fold…If they default :beer too bad…You make more money…
Another point here…
This DROP in activity here IS, iin all likelihood, a SIGN of a REAL…LONG TERM…Bottom being put in.
This complete abandonment of real estate by the HERD is a CLASSIC bottom indicator.
the “CATTLE” always buy their homes, stock, and NOW even their GUNS at the very PEAK of hysteria!!! Remember the AMMO shortages last year and the price gouging for the Coming COLLAPSE???
THAT entire survivalist GARBAGE was the CATTLE running in a HERD again!!!
Could real estate prices continue lower???..ABSOLUTELY.
BUT…MY MONEY says it will be extremely hard to get hurt buying property at 50% below The cost of just the LUMBER in that building.
As I’ve said before…when you can buy a cash-flowing property for less than the price of pretty much any new car (which will depreciate), it’s a no brainer.
Yeah i remember that… .223 was a dollar each!!!