Making money on properties with foreclosures, short sales, and with motivated sellers, is currently a growth industry.
What are some of the best money moves to make in 2009 ? With low housing prices, thats opportunity!
Lesson of the ’80s
Investors stand to profit from buying distressed debt, condos, homes and commercial real estate.
Many are eager to take advantage of what happened in the wake of the real estate bust and savings & loan crisis of the 1980s – instant riches from condos, apartment and office buildings bought at fire-sale prices.
Today there are many properties that are on sale. Its like a half price special. They are 1/2 of what they where during the height of the housing bubble.
Many of these properties can be negotiated even lower than the current asking prices.
Why not take a clue from Billionaire John Grayken of Lone Star Funds, who made a fortune in real estate, during the S&L crisis in the 1980s? He is investing again, with the same strategies he used before. In July 2008, he bought up $6.2 billion in distressed properties. Now he’s just waiting for the market to recover.
Another Fort Worth billionaire Robert Bass, snagged many distressed properties after the savings and loan bust of the 1980s.
Sound familiar? Buy when they are selling and sell when they are buying.
The trick is where do you put your dollars? Where can you put your money now to give you the biggest return on your investment?
The lure of the beach and ocean isn’t going away! Many people are currently looking for beachfront investments. Many smart investors are currently buying Myrtle Beach Condos that are on the beach, or near the ocean.
The worst financial crisis since the Great Depression? For some buyers and investors, it’s like ringing the dinner bell.
You don’t have to be a billionaire to play. If you have good credit, a job, some cash and the fortitude to stick it out as the economy recovers, now is a great time to buy Myrtle Beach real estate. Buy low, and sell high.
This is one of the best ways money can be made in real estate. But unlike the real estate flipping that helped fuel the housing bubble a few years ago, these new opportunities will require patience and staying power. Investors will need a good eye to spot investments with underlying value, as well as enough time and money to wait out the downturn. Many real estate investors expanding that return on investment by using their oceanfront properties as a Myrtle Beach condo rental.
One thing all players agree on is the need for knowledge. If you don’t know what you are doing, or you don’t know what the best values are, you will want to work with a professional Myrtle Beach Realtor. You want a pro that has the knowledge, the experience, is an expert negotiator, and will go to work for you. Armed with the knowledge of a pro, you can purchase some fantastic long term investments.
When we look back on this time in history, this will be looked at as a time of great opportunity. The real question is, are you going to sit on the sidelines? Are you going to listen to the negative media and watch opportunity pass you buy? Or are you going to act on this great opportunity we have?
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