Timing is everything when investing your money. So many people jump on the bandwagon and buy when the market is “hot” and then panic and try selling when the market is “soft”. This buy high and sell low approach is the exact opposite of what smart investors do.
When the real estate market was going crazy as it was a short while ago most serious investors looked for ways to make a quick buck. They didn’t want to be stuck with long term investments that happened to be overvalued. Now as the market has seen a price correction and there are many great opportunities out there the serious investors are coming back into the game looking for long term profits.
Serious investors realize this is one of the best opportunities to pick up homes at bargain prices in decades. They realize that many sellers must sell their homes in a set time frame and are willing to sell at serious discounts. They also realize that with the recent changes in the mortgage industry that more people will have to rent over the coming years. Prices will come back up and more renters means rental prices are on the rise to allow for increased cash flow.
The time to purchase your long term residential income properties in the Chicagoland area is now. If you are thinking about investing in real estate feel free to contact us for more information.
2 responses so far ↓
Charles || Jul 16, 2007 at 11:50 am
As usual Ken, you are right on the money. The very thing you are describing is happening in Las Vegas. People are desparate to get out of their current loans and are selling their homes below market. Rents have been increasing in the last six months and there aren’t enough rental properties to meet the demand.
Toby Barnett || Jul 17, 2007 at 1:42 pm
Charles, we have seen our rentals come on the market only to be rented within a few days. It has also sparked investors picking up more properties, like Ken is saying, just to keep up with the demand.
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