Posted by GL - ON on June 29, 2003 at 12:57:34:
The first time I experienced a real downturn I got creamed. Then I stayed out of real estate for over 10 years.
I honestly believed that it was no longer possible to make money in real estate because of high prices, high interest rates, rent controls, and a generally deteriorating social and political climate.
Boy was I wrong! The “smart boys” stayed in the game and worked out ways to make money in the most bizarre, unpredictable market this country has ever seen.
I learned my lesson, several of them in fact. One, there are always opportunities if you use the right tactics Two, no matter what happens in the real estate market it always come back eventually.