Posted by Gene on April 27, 2007 at 16:36:24:
I look at it much the same way.
I sold much of my portfolio in fall of 2005…it was obvious that CA was going to have problems. I initially put the proffits strait into a money market account which gave me 4.5%.
Sence then I have moved it all to short term private money morgages. They have ballons due in 2010 which is when I think there will be some great buying opportunities.
My living has been investing in real estate…but these last couple years it was obvious that I needed to expand my horizons if I wanted to prosper during the downslide.
>>>>>>>>>For example, in the SF Bay area, it is not unusual to have a property that returns 4 - 5% per year. In those cases, ING Direct will provide the same or better yield with none of the risk. So those properties are not priced to move quickly if being sold (and they don’t, it takes years to find a buyer).>>>>>>>>>>>>