Now is the time to step into the real estate industry and make money. Warren Buffet, the worlds richest man, said during turmoil is the time to make staggering profits. With the real estate market close to the bottom its time to get into houses and ride the appreciation or profit potential like a buoy.
I want to know what people thoughts are with the current market crisis.
He's right. But you have to be smart about it.
We are not at the bottom yet. I work in the Real Estate / Title industry and we still have not experienced the Commercial side. We are experiencing the foreclosures and short sales from the homeowner but we haven't begun to see the foreclosures from the commercial side - and they are coming!
We are no where near rock bottom yet.
But if you have some money to lend, I have an interesting ski resort that I need around $100 million to buy.
Real estate market close to the bottom? You ain't seen anything yet. Rule of the thumb is: if a market is in a downtrend, it will continue to do so until it proves otherwise. Keep away from these markets at least for now. These markets are falling knives that you are attempting to catch.
How to make a small fortune in property at the moment?
Start with a large one.
I agree with London Girl. With all the turmoil going on in the financial markets currently, god knows where it is all going to end up.
I live in Spain, and there is an enormous over supply of properties and the experts predict that it could take many more years before prices start to pick up again.
Anyone thinking of investing in property, should only consider countries that have a shortfall in the number of properties available, like the UK for instance, but only when prices have bottomed out. There are more people needing homes in the UK than are being built. I think that prices need to come down a lot more to enable the first time buyer to get a foot hold on the first rung and secondly, this credit squeeze needs to release its grip and allow people to obtain the mortgages they need in order to buy again.
It seems these boom and bust property scenarios are fairly predictable, around every eight to ten years but this time it is far worse because of the global financial problems and as said previously we just don’t know how its all going to pan out. I for one cannot see prices going up again for a long time.
All real estate is local. There are places where the prices did not go up that much and are not going down that much.
But places like Orlando, where I buy and sell homes, have taken a tremendous hit. It is so funny to me. When the market was going up the gurus were saying this the best market of all time to buy. Now when it is down, they are saying the same thing.
I think caution is the optimal word for this market. You have to get an amazing steal, like a minimum of 40% discount to even consider buying homes for a investment.
That being said, there are plenty of place where you can still buy and cash flow a single family home all day long. Rents are also going down at the same time as taxes and insurance is going up. Crazy business but it sure beats having a job that you could lose.
Real state business is now not good as these sector is coming down. And people having their own land and buildings are just selling it off.
Now is the perfect time. Check out our post. <no links please!>
Warren Buffet is investing in Energy and Food. Your use of his name is misplaced.
Pay attention to what Cheri has said all the Realtors I know that are on top of the game know about the impending foreclosures in the commercial markets.
I think we're close to the bottom. First time buyers who have jobs are starting to get into the market. That will be the first segment of the market to recover. I think the larger homes will go down a little more. If you're looking to invest, those entry level homes are good to rent out. You have to look at it in the local market you want to invest in. If you can buy a condo or small home and rent it out so that you break even, or almost break even, you can't go wrong. You have to do your homework about the rent values, though. If vacancy rates are high, you'll have to rent for a low price to make sure you have tenants.
The greatest opportunities are sometimes presented in the midst of a chaotic situation. I have friends who are doing well with Property Management right now. My friends who got a little greedy with acquiring properties are hurting right now.
with real estate there is a saying " bargain of a lifetimes comes once a week". Investing into property is good as long as you know what you buying and you buying at a right price
If you want to make money from real estate you can also contact the moving companies agents that will helps you too
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