Alright, so the real estate market has crashed and burned. It�s time
to earn some money in this recession and the time is RIGHT NOW. First
off, interest rates and home prices aren�t going to decrease any lower.
Foreclosures are happening right and left, and now is the time to make
the long term investment that will fund your retirement!!
Because the market is now 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 buy
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 purchasing
dirt cheap foreclosures, fixing them up a bit and renting them out to
tenants.
We were once regarded as a nation of renters. Until WWII, most people
rented property instead of owning a home. Mortgages were pretty tough to
get and required 50 percent deposit. Today, mortgages are easy t get and
we have become a nation of homeowners. Although the tide is turning 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 foreclosures.
You can grab 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 will also need to 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 paying
in cash for the property, you need to show proof that you have the funds
available.
You can get a pretty good deal when you buy 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.
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