That is FAST CASH. Despite the fact that we are in a down market throughout the better part of the entire country, and we keep preaching “buy and hold, buy and hold†logic never replaces the allure of fast and sexy cash. Everywhere I go, there are new investors entering the market, not for the common sense marketing strategy of holding properties which will create true long term wealth for you, but rather, that good old fashioned “GET RICH IN REAL ESTATE TODAY†why on earth would you wait or want to get rich slow philosophy.
Well, there are a few reasons…First of all, there are a ton of great deals out there right now for those of you willing (and brave enough) to have tenants for a little while. There is so many inventories on the market that you can really negotiate a sweet deal, then you have the luxury of waiting a few years and can get top dollar when you sell, while your tenant has been paying down your loan.
Another reason that you may want to think about getting rich slowly when you decide to “get rich in real estate today†is that many people who get rich quickly, get poor quickly as well. They usually are buying in a quickly appreciating market and don’t actually know how to invest properly when the market is not appreciating at an insanely high rate. Hence, they lose faster than they gained, and don’t have the knowledge to go back and work in tougher markets. There are still appreciating markets out there, Seattle and Mobile, to name a few, but boy are there only a few. Continue reading ‘Fast is Still the Sexiest’ »