what are investors doing right now? - Posted by Bill (WI)

Posted by phil fernandez on January 05, 2011 at 09:48:22:

Bill,

I usually dip into my equity lines of credit for the downpayment and then go to a small local bank for the first mortgage. That way I have no money out of pocket.Of course I have a thirty year relation ship with this bank and have excellent credit.

what are investors doing right now? - Posted by Bill (WI)

Posted by Bill (WI) on January 04, 2011 at 11:16:38:

What are you doing right now to make money in real estate? Buy and hold? Subject 2s? Wholesaling? Are you using your own money or are you finding no money down deals? Basically what is working right now?

Re: what are investors doing right now? - Posted by dell-ohio

Posted by dell-ohio on January 05, 2011 at 21:56:18:

Ari’s comment about choosing an area and becoming good at it i believe is key. Maybe you try other techniques once you have mastered one, and it becomes “easy”.

I am a buy rehab and sell guy, I have taken my lumps over the years and tried a lot of different techniques. As of June of 09, started focusing exclusively on buy in good neighborhoods where first time homeowners want to live and raise a family, rehab to high standards, with nice new kitchens and bathrooms etc. stage them well, and sell at fair price.

Although by anyones definition our market is crappy we are making more money now than any point in the past 7 years since I started doing real estate full time.

Just ran the numbers at the end of the year, our average d.o.m for 19 homes we sold since June of 09 = 25 days. Three sold before they were done, the longest on the market was 78 days

I am making these comments as my viewpoint (although some techniques work better at times than others)that it is more important to learn an area or method well, and to decide to become damm good at it than it is to keep trying to figure out what the best technique is.

I remember spending a lot of time sitting at high priced seminars conferenes and bootcamps with a dozen different gurus selling me courses that were always better easier and more profitable than the previous speaker’s : - )

the best to you in you investing endeavor

oh, i use my money, banks and partners

Buy, Buy and more buying - Posted by David Krulac

Posted by David Krulac on January 04, 2011 at 22:50:23:

Sure there are sellers who haven’t got the memo yet that prices are down, sales are slow and its a bueyr’s market.

But for those sellers NOT clinging to the past, they are accepting lower prices, if they really want to sell. There are bargains everywhere. Just saw a house today in an area that I am very familar with. House was listed and sold in 1 day, The price was about a 15 year old price. It was foreclosure and it did need work, but there was room for profit in the deal. Because of the low price it could be rehabbed, it could be rebted as buy and gold, and it could have been flipped.

Its a buyers market, so cherry pick the best deals with they best positive cash flow and the best resale potential.

Re: what are investors doing right now? - Posted by phil fernandez

Posted by phil fernandez on January 04, 2011 at 16:06:49:

I’m making low ball offers on short sales. Then it’s in the banks court. Take it or have another foreclosure on your books.

Once I acquire a short sale property, the price is low enough where I can rent it out and do the long term buy and hold.

Re: what are investors doing right now? - Posted by ari

Posted by ari on January 04, 2011 at 14:06:24:

Well, it depends what you are looking to do. If you are trying to make a quick buck, short sales have been the biggest things I’ve seen. I’m a buy and hold investor so I don’t flip or do short sales anymore. But my rule of thumb is stick to what you know best. I think it’s a waste of time when people jump around to find the next big thing in real estate. It’s important to find something, stick to it, and get really good at it.

I have looked into investing in tax liens, but I really don’t know too much about it myself. I buy and hold because I know that someday I will have lots of equity and cash flow. I just let time be on my side.

Re: Buy, Buy and more buying - Posted by Bill (WI)

Posted by Bill (WI) on January 05, 2011 at 08:17:17:

Thanks David

Are you doing this with cash or can you finance these?

Buy and Gold? - Posted by Kristine-CA

Posted by Kristine-CA on January 05, 2011 at 24:30:36:

Maybe it’s not a typo, but Buy and Gold should be the name of the book you write on REI. It’s so you!

Re: what are investors doing right now? - Posted by Bill (WI)

Posted by Bill (WI) on January 05, 2011 at 08:16:28:

Thanks Phil for your insight!

Re: what are investors doing right now? - Posted by Faith

Posted by Faith on January 09, 2011 at 15:32:09:

Great advice. The question is how are you buying and holding right now? Are you using your own money, OPM, investing with partners, lease options…? In terms of ROI are you looking at the 1% rule with rents or just banking on the equity?

Re: what are investors doing right now? - Posted by Bill (WI)

Posted by Bill (WI) on January 05, 2011 at 08:15:54:

Great advice! Thanks ari.

Re: Buy, Buy and more buying - Posted by David Krulac

Posted by David Krulac on January 05, 2011 at 18:23:14:

both plus others including:

selling some property
exchanging property
and seller financing

Re: Buy and Gold? - Posted by David Krulac

Posted by David Krulac on January 05, 2011 at 18:26:06:

except that I’m not a gold person.

Buy and Hold will make you wealth, the longer your time horizon the greater your wealth.

But that’s not the only real estate technique that I recommend. To a man with a hammer everything looks like a nail.

David Krulac
Central Pennsylvania

Re: what are investors doing right now? - Posted by Bill (WI)

Posted by Bill (WI) on January 05, 2011 at 08:20:31:

What do you do when they get accepted Phil, pay cash or finance?

Re: Buy and Gold? - Posted by Kristine-CA

Posted by Kristine-CA on January 05, 2011 at 18:33:26:

Oh, I think I could have guessed that you’re not a gold person. I was just
wondering if there was something to your typo “buy and gold” that we
could work with, something to give you an edge in your future as an REI
educator. :). As in Buy and Hold for Gold…you know like a pun. Happy
New Year!

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