Posted by CH on March 05, 2002 at 21:35:52:
In my opinion, the three most important things in real estate are Timing, Timing, & Timing. Real estate goes in cycles and your market is in a down cycle. Over the next few years there will be a big transfer of wealth in your market. Guaranteed!
The questions is, are you going to be apart of it???
Good Luck!
Craig
Sellers in a Depressed market - - Posted by Ebong
Posted by Ebong on March 05, 2002 at 19:51:17:
I live in Buffalo, NY, which happens to be the 6th poorest city in America. There are a lot of properties here, like HUDs, Bank REOs and others. I know I can find Motivated Sellers as well. My problem is I am afraid because of the housing market, I may not be able to sell the rehabs I acquire. THen I would be stuck with 2 or more properties. I’ve also thought about perhaps renting the units out if I can’t sell but I’m trying to build my cash before I turn into Mr. Landlord. I also want to have cash for future deals.
(2) With rehabs, should I wait till spring in order to fix up homes? Or could I make some repairs now in winter?
Thanks All,
Keep Investing