Isn’t US Housing Market Tanked?

I’m sure you’ve been keeping up with the news as like me and have seen the doomsday predictions about real estate. “The housing market is dead”. “US real estate market tanks by largest percentage ever”.

Those are just a couple of the headlines I’ve read about property especially here in the US.

It’s a real shame for thousands of people who had adjustable rate mortgages, have now lost their jobs or had their payments skyrocket to a level where they may as well have lost their jobs, and are now facing foreclosure gavel and the auctioning off of their property at the County Court House.

This is a tragic situation brought on by poor lending standards and bankers operating under a casino mentality.

But the silver lining is… as a real estate investor you are going to have the most massive opportunities for picking up dirt cheap assets both houses and commercial real estate properties over the next five years than you have had in the last 50 years.

To sum up this credit crunch and financial crisis it is little more than a land grab by big bankers and the powers that be. The middle class is being killed and an Uber elite wealthy class is forming as well as the other side of the coin the ultra-poor downtrodden class.

So which side of the coin do you want to be on?

You can see this situation for what it really is and take advantage of the massive opportunities out there, or you can believe all the naysayers and doomsday prognosticators, stick your head in the sand, and look up five years from now and see those select few real estate investors who took advantage of this and made their dreams come true while your life is still the same and probably even worse because of inflation.

The choice is yours and the time to act is now.

Mortgages and other lines of credit will of course be tough to get. But since you’re a real estate investor you have other tools at your disposal and creative ways where you can buy properties.

Hopefully, you already set up some partnerships and private cash investors and some potential hard money lenders. Also you’ll want to make very judicious use of owner financing type strategies and options letting your sellers finance the purchase of your investment properties for you.

One a really excellent partnership is having a local realtor.

Another great resource are classified ads both define properties you can buy and also to find buyers for properties you want to sell. internet classified

This is going to be an amazing time of opportunity where you can do owner financing type deals (meaning the loan isn’t cashed out and you simply start making payments directly to their mortgage company but still get ownership of property) because there are going to be more desperate sellers willing to be flexible and accept these types of terms. Up until 2005 and 2006 these type of deals were very difficult to get.

So bone up on your creative purchase strategies. Now is the time to act.