yes, there are some problems out there today. Rampant BK’s, etc, but this can all be converted into a positive for a creative RE investor.
Some of the things that we look for in creative RE investing do not work as well when the market is hot, and just anyone can sell a house. So, the inverse of that can make a great marketplace to make some money.
Study up on how to do so, and you can reap the rewards… all the info is contained right here on this sight.
***BUDDY, CAN YOU SPARE A DIME? In 2001, 172 large companies
worth US$230 billion filed for bankruptcy. That was up 80% from 2000, and up 11.5 times from the last peak, in 1990. Adding up 2001 and 2002, you will arrive at a cumulative US$500 billion of liabilities in bankruptcies by December 31, 2002 - or 5% of U.S. GDP.
ABI report that bankruptcy filings - Chapter 7 liquidation),
Chapter 11 (reorganization), Chapter 12 (family farms), and
Chapter 13 (low-income insolvencies) - climbed to 379,012 in Q1 2002, the highest ever. 97% of the bankruptcies are personal.
***PENNY FOR HIS THOUGHTS: That’s about the cash-per-sound bite ratio former Internet favorite DrKoop.com ended up bringing to the table.
Vitacost.com bought the company lock, stock and barrel for about the price of a run-down row house in Baltimore’s nouveau-chic redneck district: US$186,000.
As they say in the Vatican: Sic transit gloria mundi.