How to Best Handle This Unique Real Estate Market

What to Focus on in this Unique Market
 
We have discussed many times that this market is very unique and you cannot do business as usual. This is not the same hot market that we saw over the last several years when you could put a for sale sign in the yard and get three contracts the first day on the market. You must adjust to today's market. Here are some specific things to do:

1) Be selective and buy better deals

We see hundreds of leads from sellers and other investors come across our desk each month and 98%+ of them are junk. One of the biggest challenges we see with newbie investors is that they have such a small (if any) marketing budget and they expect to do a lot of deals. That's not going to happen in this market. So when they do get a lead they try to make it into a deal just because it is the only lead they have. The key is to get enough leads coming in so you only work with the motivated ones. By the way this is another great reason to buy deals from us because we spend the thousands of dollars in marketing each month and do all the hard work to find the great deals for you. Then all you have to do is fix, rent or sell the deals and make money. Check out all of our deals here.

2) Focus on long-term holds

As we have stated many times before this is a great time to buy and hold. We will all look back 5-10 years from now and kick ourselves for not buying more houses when things were this cheap. So buy properties now and put lease option buyers or tenants in them. Do whatever it takes to make this a focus. Keep in mind that a buy and hold strategy is a long-term wealth building strategy and you still need to take care of today's cash flow needs other ways. This can be done by wholesaling a deal every now and then.

3) Get more and better funding

Constantly work on finding new lenders that will fund your deals. This could be a local community bank, a national bank or a hard money lender. We have provided several options for you on our website. It is clearly more difficult to get loans in today's environment; remember though that it is tough for everyone else too. That means when you succeed in getting funding then you will be better off than your competition.

Work on getting more private money. This is HUGE in today's market. Private money is not regulated by anyone. That means you can get private money no matter your credit score, appraisal, or anything for that matter. Getting private money is just as easy in today's market as ever. Additionally, there is more private money all around you than you could ever use; all you have to do is ask. By the way if any of you have money that is not earning a high rate of return and you would like to invest in a safe and secure asset such as real estate please contact us. 

4) Focus on short sales

Last week we worked hard to lay out the case on why this market is ideal for you to focus on short sales. Short sales will likely be a huge way to profit from the foreclosure trend for the next several years. There is so much money in short sales alone that if you are not involved in them now you need to be right away. Again there are two ways that you can work with us on these deals. Find out all the details on how to work with us in the exciting area of short sales. 
 
5) Believe that you can become successful

We could write a book on this one alone. There really is so much to cover on beliefs that it is hard to give you all the answers here. Maybe we can expand on this in future newsletters. Believing that you can achieve anything is much more powerful than all your real estate education and experience combined. Whether you think you can or can't succeed in today's market doesn't really matter because either way you are right. Now wait a second, are you saying that my success is up to me and not up to the market or anything else? That's right! Now must of us know deep down that this is the case although sometimes it is hard for us to admit.

Our minds are the most powerful computers on earth. We program them, and re-program them millions of times each day. We set limits on what we believe is possible and impossible. We limit ourselves and what we can achieve when fear creeps into our lives. That fear holds us back from realizing our dreams. The odd thing is that WE create the fear and yet we think the fear is coming from outside of us. Did you know that when we are born that we only have two fears? One is the fear of falling and the other is the fear of loud noises. Both of those fears leave us very quickly. This means that within several weeks we have no fear. As we get older we create our own fears and allow others to make us fearful. Does it make any sense why we do this to ourselves?

Let's bring this back to how it applies to real estate.

Many investors today don't believe you can make money in today's market. They are either not doing enough deals and getting frustrated or have already quit the business. In order to overcome a fear of something you can't achieve you first must believe it is possible. Earlier we made the case that it is not the real estate market that determines your success...it is you. To prove this we would be happy to let you talk to numerous investors that we know that are having great success in these so called disastrous times. So if some investors are having success does that mean it is possible to make money it in today's environment? Absolutely! So what is holding you back? The answer is between your left and right earlobe! Make certain that you believe you can succeed no matter what happens in this market.