Now is the time for the real estate investors who do not follow crowds (2005/2006 boom) to strike, while prices are low, the number of distressed properties continues to grow and yet home loan funding is still available at historically low interest rates.
How Do I Buy a Foreclosure Property?
U.S. home values lost about 1.9 trillion through the end of third quarter, according to recent Zillow Real Estate Market Report, and one in seven homeowners owed more on their mortgages than their homes were worth. When the home owner or an investor is “underwater” on their mortgage, the situation can leave them gasping for financial breathing room.
Web sites such as Foreclosure.com, Foreclosures.com and RealtyTrac.com all provide comprehensive listings of pre-foreclosure and foreclosure properties, so these days locating a distressed property to purchase is easier than ever! Couple this with the fact that many real estate investors were caught “with their pants down” after the boom; many who invested in a home or rental property in 2005 or 2006 have their capital tied up in properties that have lost value. If you are prepared and were looking ahead during the boom years, wondering “Hmm … When will this bubble burst?” then now is your time to start looking at potential of real estate investing.
But of course there is another question that we ask of each other:
How Long Until We Reach the Bottom?
I was told by my real estate partner who is involved in real estate as long as I have been alive (I am 50) that in the 80’s there was a huge boom in the foreclosure market. Get Rich Quick “masters” were all over the market and investors who were willing to risk buying distressed properties using hard money loans and other creative financing snapped up properties at prices never again seen until now, as a history repeats itself, so I would expect in the next year or two we’ll see (it is already here to some degree) the Quick Buck Crew peddling their DVDs, audio books, e-Books and training seminars all over again, promising to show you how to make a fortune buying foreclosed properties often times with nothing down.
What these books will not provide the investor is the expertise that is needed in the specific geographical area (Fresno and surrounding cities). That is where Fresno Income Properties plays a huge role.
I am proud to say that we are leading real estate firm that specializes and sells the most apartment and single family buildings for investment purposes in entire San Joaquin Valley. I know that often times many claim to be specialists while seeking your business. So called specialists claim to be the best and the most knowledgeable and want to take the spotlight often times by manipulating statistics. To a “beginner investor” they seem to know a lot but only under scrutiny you will notice that actually they do not know everything that you need to know in order to make an educated decision in this process of selecting property that fits ALL of your criteria.
I, not only have the numbers behind me that I accumulated in past 6 years to prove it but my integrity, honesty and true knowledge of the area and the industry. All of these will come very much handy in your decision making process (as I am hoping that you will make me part of your team).
When is it the Right Time to Buy?
For the most part the authors of these books and DVD courses are correct when it comes to creating urgency these days to invest. But there is another ingredient necessary to make this a successful venture, that is the timing and knowledge of Fresno area as well as understanding of this kind of investment. This is a crucial ingredient for successful investing.
This is where I, Paul Gestic with Fresno Income Properties will come as an asset to your decision making process as well as in assisting you in selecting the right property that will fit all of your criteria without a compromise. And just like in any other real estate cycle this one will come to an end and home prices will gradually start to recover. Timing is why I sold many apartment buildings in 2005 for the top dollar. The market felt close to the top and peaked a few months later.
You don’t have to hit the absolute top or bottom of a market to capitalize and rarely, if ever, can anyone time any market that accurately. We all know that when the properties start going up in value that will be the time when the market is on upturn again.
Fear is the thing that holds all of us back though; how much lower will it go? Is this going to be a deep recession, with energy prices, a post-election era with a new US President and long-lasting job losses, inflation and continued uncertainty?
Or, are we coming toward the tipping point when a new time of prosperity and continued gains in productivity made possible by disruptive technology and renewed demand for new homes, office buildings and industrial properties?
Looking for Signs of a Recovery
The guess as to when things recover is ultimately for you to decide, but just as people get caught up the irrational exuberance and euphoria when a market is near the top, they go even farther to the other extreme at the bottom. Some people predict doomsday, others say the markets won’t recover for years and things seem dark and disparaging. Who would invest money at a time like that? The smartest investors always do, riding the crest of each wave and taking their time looking for the next set to come in during a down time.
We’ll continue to discuss this topic in the coming months as America grades the standing president and as we all analyze stock markets around the globe, holiday sales, unemployment rate, and year end financial data. These and many other factors continue to change the economic landscape. But start getting your ducks in a row if you want to make money in the next real estate boom that is here already! Don’t believe the mainstream media who speaks very negatively against real estate investing as the real estate market may very well create the best long term financial growth strategy over the next decade.
The time to act is now! Remember those days when you came up with some kind of invention that was bound to make you a millionaire or when you had the very first idea for your real estate business? For some that seems like a very long time ago ago while others may just now be in the beginning stages of their real estate business. For many, those ideas never materialized and remain as an unfulfilled dream. The closest they got to turning it into reality was scribbling their ideas on a napkin as they sit at their favorite restaurant. Hopefully those plans eventually made it to paper or, better yet, were transformed into a formal business plan to be followed.
Unfortunately for many, those plans that were so carefully crafted are soon forgotten, just as we forget about our new year resolutions about a month or so after each first of the year (quit smoking, lose weight, go to church, walk the dog or get in touch with a distant relative). The mission statement, goals and objectives, strategy and such are often collecting dust somewhere. Unless it is needed for some proposal or financing it is never looked at again.
What happened? When did you lose interest? Why did you give up? What about materializing your dreams and fulfilling created by you a business plan? You do know that most of the fortunes were made in real estate or were backed by real estate. Every powerful personality (Donald Trump) holds real estate assets. It is time to get back on the track!
We can change all of this NOW. Today you will make a first step in the right direction that is you will take a charge of your destiny and call Fresno Income Properties at 559-438-9410. That is right, please call Paul and let me help you to get back on the track and craft a business plan just for you.