The Biggest Real Estate Fortunes Are Made In Down Markets
“Now is the time to dive in to make some serious cash”, says Barbara Corcoran in an interview on the TODAY Show, “foreclosures up 30% from last years levels.” ”Most of the biggest real estate fortunes were not made in good times, but in bad times like this… Why miss this golden opportunity to make your real estate fortunes?”
- Stick To What You Know – Invest in your own backyard, you know the good blocks and the bad blocks
- Start Small – Get your feet wet before becoming the “hot shot”
- Buy the block Not The House – when times are tough tennants always buy into a pretty environment
- Examine rent receipts not the leases – make sure that people are actually paying the rent
- Partner With an Opposite – One Partner picks up the others slack
- Don’t call prospective tenants current landlord, call the one before that, the current landlord
- If they move in quickly they move out quickly without notice