Posted by Stacy (AZ) on January 31, 2000 at 23:25:58:
The real estate market is in a frenzy here in the Phoenix Metro area. I know, ahead of time, I will be able to make a profit when I sign a deal. For example, I have a fixer property under contract. I put a one-day Sunday ad in the paper, and my phone will NOT stop ringing. This was originally one of those “I could rehab this myself and make money, but I’ll retail to a handyman/homeowner for a week before I decide.” I have a total of 29 calls from serious buyers from that ad.
But…real estate goes in cycles with the economy. I’ve learned how to make money in a boom economy. What about the down-turn? Will I have made enough CASH so I can take advantage of a down-cycle? Will I even know what to do in a down cycle? Sure, deals will be everywhere in a buyer’s market. But who will buy them?
Gotta get ready for the big hit. C’mon! You know it will happen, don’t you?
Late nite meanderings…