How To Make Money In A Real Estate Recession
Alright, so the real estate market has crashed and burned. Itís time
to earn some money in this recession and the time is RIGHT NOW.
First off, interest rates and home prices arenít going to get any
lower. Foreclosures are happening right and left, and now is the
time to create the long term investment that will fund your
Because the market is currently a buyers market and there are many
more homes for sale than there are buyers, it is smart to look at
real estate investment in this recession as a long term investment.
This means that the thought of buying the home, fixing it up and
selling it for a profit is over for now. For now. The real estate
market is just like any other market and has its ups and downs.
Right now, it is experiencing a decline. It will rebound.
The way to make money now in the real estate market is to either
purchase partial construction homes or dirt cheap foreclosures and
rent them out to tenants. Real estate is a unique investment. It is
unlike other investments that are usually on paper. Real estate is
something that you can actually use. Not only that, it is something
that we actually need. Everyone needs a place to live. You can
capitalize on that by buying dirt cheap foreclosures, fixing them up
a bit and renting them out to tenants.
We were once considered a nation of renters. Until WWII, most people
rented property instead of owning a home. Mortgages were pretty
tough to get and demanded a 50 percent deposit. Today, mortgages are
easy t get and we have become a nation of homeowners. Although the
tide is changing and many people are finding that they bit off a bit
more than they could chew when times were good. Now that the real
estate recession threatens the entire economy of the United States,
many people are finding themselves out of work and unable to afford
payments on their homes. This is one of the reasons for all the
You can obtain foreclosure properties easier than ever before. You
will need to do your homework and make sure that the property is in
a good area where the home prices are stable. You should have proof
that you can purchase the property for the amount that you bid. This
will include a pre approval letter from a lender as well as a
certified check for the amount of the down payment. If you are
planning on using cash for the property, you are required to show
proof that you have the funds available.
You can get a pretty good deal when you invest in a foreclosure. You
will have to wait for a decision as banks and lenders do not have
the incentive to act as quickly as individual homeowners, but if you
do manage to be able to buy a foreclosure, you will be surprised at
the bargain that you get. Buying a foreclosure and either living in
the property or renting it to a tenant is one of a few ways to make
money in a real estate recession.
Back to San Diego downtown real estate article index