There has been a lot of talk lately that the sky is falling and there is no bottom in sight for the real estate market. The stock market will continue to fall, but the real estate market is exhibiting pockets of strength in many areas. True, some cities have a long way to fall, but others are at bargain prices that we've never seen before!
A window of opportunity exists right now in many areas, but that window will be closing faster than you might think. Did you also know that although Las Vegas was one of the worst performing cities, and you can now buy a 10-year-new single family home in a decent neighborhood, 4 bedrooms, 2 bathrooms, an attached garage, needing just carpet and paint, in the low $100’s? The same house sold for $325K+ just 5 years ago (I know, I was selling then). Add to that the fact that Las Vegas is technically land-locked for growth (Mountains on one side, Lake Meade on another, a military base on another, and an Indian Reservation on the last) which means that once the relentless population influx absorbs all the inventory, prices have nowhere to go but up (literally; have you seen the height of the new towers on the Strip lately?). Now, how much can you rent said house for right now? About $1,200 per month. Do the math on that and tell me why you're not running to the airport?
When it would be the right time to jump in to the market. ?
"You don't wait for the bottom of the market, you wait till it makes sense." The point here is that no one really knows where the bottom is, and it really doesn't matter. The bottom won't officially be called until it has long passed and the analysts decide it was 2 years ago. Would you rather have your money sitting in a casino (oops, I meant the "stock market") completely unsecured and at risk, or would you rather have your funds secured by an investment like a described above? Imagine if you could buy stock at 70% or less of it's current value, have it pay you a 10%+ return annually, have it fully secured by a performing asset, insured against fire, theft, and disasters and you could do it all tax-free within your retirement account! I'm not sure what all this doom and gloom nonsense is all about, but the opportunity I just described is available to you right now!
Buying properties that will cash flow almost immediately with tremendous upside and very limited downside