People that Were Foreclosed-On
We all know there were a ton of foreclosures a few years ago as a result of the real estate bubble bursting.
Well a lot of the people that were foreclosed-on back then are starting to be able to buy homes again; especially if they were foreclosed on in 2008 or earlier.
So there’s a segment of people that will now be back in the market looking to buy homes again.
And the good thing about real estate is that everyone needs somewhere to live.
So if a person went through a foreclosure in the last few years and isn’t able to qualify for a mortgage yet, they might still be good tenants for your rental property.
Where There’s Adversity, there’s Opportunity
I’m sure you’ve read about all the bad things going on in the stock market.
Inflation goes up when the stock market goes down.
In my opinion, the best way to benefit from that is to be in a position where you have a consumable product.
If you’re in the real estate business, that means you have product, and that’s housing. That way, your business and profits benefit from the inflation.
If you’re not in the game as a provider of some type of service, you’re stuck in the consumer category.
For many, real estate is a simple way to become a provider without having to develop a brick-and-mortar business.
“You Make Money in Real Estate When You Buy”
Ever heard that phrase? It’s true.
You make the money when you buy, but you just don’t receive it until you sell it, refinance it, or rent it.
In case you’re still not getting it, what that phrase means, is that you want to buy as low as you possibly can.
And while home values have been at some extreme lows, they’re are on the incline.
If you’re just now getting into real estate, you actually missed getting in at the rock bottom prices, but it’s still fairly early in the climb.