Record foreclosure filings have prompted some savvy real estate investors to action. While some seasoned conservative investors are advising to sit on the sidelines, hold on to the properties they currently have and wait to invest in more, there are seasoned real estate investors used to investing in distressed properties who are cashing in by tweaking their strategy to fit today’s real estate market.
Record foreclosure filings have prompted some savvy real estate investors to action. While some seasoned conservative investors are advising to sit on the sidelines, hold on to the properties they currently have and wait to invest in more, there are seasoned real estate investors used to investing in distressed properties who are cashing in by tweaking their strategy to fit today’s real estate market.
“It’s all about analyzing projects from the outset and create a manageable plan of attack,” says Glen Daniels. Glen is an investor with over 20 years of experience in buying distressed properties and rehabbing them for profit. Glen believes that an investor who analyzes, budgets and markets properties effectively will overcome the obstacles of any real estate market.
Citigroup, the largest bank in the United States, announced today that earnings fell about 60% from last year at this time due largely to losses sparked by the U.S. subprime mortgage mess. Citigroup will write down loans estimated at $1.3 billion on subprime related assets.
Exactly what does this mean? For the consumer, not great news. Subprime lending is being blamed for the unprecedented surge in foreclosure activity around the U.S., partially responsible for the drop in consumer confidence. Countless media commentary is advising average homeowners not to buy a new home for at least a year. If you have your house on the market, expect to cut your asking price significantly if you want to sell your home.
I received an email this morning and the subject line was “Do you think he regrets following the gurus?” Yes, it was about Casey and I usually just delete these now without reading them but I read that one. It was talking about Casey’s latest blog entry.
I haven’t kept up with the Casey saga over the last week but apparently there has been lots of activity. Don’t know the details, don’t intend to take the time to find out, if you know the details, I don’t really care.
But…
I did read his post from last night and I am going to discuss the advice he gives. Casey is not an expert and the theory of someone who knows all the wrong things to do is a source of advice is just stupid. If I am seeking advice, I don’t want to know how to do it wrong or in an unsuccessful way. If I am seeking someone’s help it is to avoid failure, not embrace it.
There are a lot of blogs by real estate agents on the net. It seems that now that houses are not selling themselves the good agents are moving heaven and earth to sell houses and the contract writers have time to blog.
I’m not casting dispersions at all real estate agents, just the bad ones, just the ones who don’t understand market forces.
In other words, the clueless ones.
I get a lot of inquiries from real estate agents. In the past they wanted to list properties, now they are trying to move them. One is particularly inept in their approach. Then spend a fortune on a direct mail piece and send it about twice each month. The pitch is always the same.
Avoiding burnout in investing. As promised here
Negotiation is a subject that, in my opinion, does not get enough airtime on finance themed websites – particularly those dealing with real estate investing.
Everyone seems to have an opinion as to what caused the housing bubble to inflate and what poked the first hole and started to let the air out but more often than not the real estate investing community is blamed. But, real estate investors, not the speculators had little to do with driving it in either direction.
But, that doesn’t seem to matter and more and more the media and bloggers are confusing investors with speculators.
Will this be the poster child of the housing correction?
Real estate investing software offers a number of advantages to real estate investors, many of which we emphasize
