Is it Too Late to Find Bargain Real Estate
Do you want to understand how to find, negotiate and close on distressed real estate and then how to flip the property to hungry investors. Well then you need to listen to Chris McLaughlin the renowned real estate attorney turned short sale investor.
I've heard it all. But the 3 biggest whoppers keep coming
back, over and over again.
#1: The recession is over. Right. We believe the media
about as much as we do the politicians. It ain't
over with unemployment numbers still piling up new
bodies on the heap every week. And foreclosures
still hitting record highs (no, "slowing slightly"
doesn't count - they're still growing every day!).
#2: The stock market's recovering. If so, it's the worst
"recovery" in history. Stock markets in China and
Europe are delivering up to SIX DOLLARS IN PROFIT
for every ONE ours is! Why? Our economy still has tons
of bad subprime loans and are gonna go South.
Other economies may be saddled with dunderhead politicos
too, but not subprime defaults. Our stock market is
limping along like an anemic bum in the gutter, looking
for bottles to turn in for change.
#3: Foreclosures are down. What a spin-job that was!
We simply threw a few less houses on the bonfire this
month than last. Does that mean there are less? No!
In fact, if you compare it with the same month of the
previous year, when the economy was crashing big-time,
the rate is UP 18% this year!
If you search out media stories in the Great Depression,
they also constantly broadcasted "recovery is just around
the corner."
For 8 miserable years.
Look, you can actually make a ton of cash in these bad times
and the worse ones to come. Truth is, there are more
millionaires made in recessions than any other times. The
main reason being, when things fall apart, there are smart
people positioned to pick them up...
...for pennies on the dollar. But there's even more money
being made by spotting these opportunities and flipping
them to other investors.
