Thursday, May 21, 2009

"Money Without Money"

Here in Texas we've had a steady 2 - 3% appreciation per year for as long as I
can remember. Because our prices never went up much, they never came down
much.

Over the last ten years when I heard about 10, 15, to 20% appreciation per MONTH
on the east and west coast I could not even relate.

Now, I'm hearing about how prices have dropped like a brink on the east and west
coats, it makes me grateful that my prices are fairly stable in most parts of Texas.
It seems that all that phantom appreciation the east and west coast experienced
over the last decade has completely disappeared.

But I'm also jealous when I hear about the kind of deals that Jack Miller is getting
in Reno now. He's buying houses that sold for $500,000 just a few years ago for
$199,000 at auction then quickly reselling them for $299,000 to buyers who get a
new loan.

I can't even relate to those kinds of numbers! They don't exist in Texas or most
of the states in the middle of the United States.

The bottom like is that each of us has to determine what our own real estate reality is.

You can't read a newsletter or courses about how someone in a different state is running
their business and think you can easily implement those same techniques and strategies
in your market.

Each of us will have to take a pulse of our own real estate market to determine where
the opportunities are then develop techniques and strategies to maximize profits and/or
cash flow.

You may not be able to get Jack's strategies to work in your backyard. But you may not.

Not just that, some of us may be in get as much cash as we can mode, while others are
in a build up our cash flow mode. So the way you buy will vary depending on which mode
you are in.

Jack likes to sell as much as he can to cash buyers now. That strategy may work for you
too if you live on the east or west coast.

But for some of us it's also an ideal time to buy with seller financing and build up cash flow.
That's what I'm doing.

In some areas, you can get houses for $30,000 that will rent for $900- $1000.

Why would you want to sell a cash flow stream like that?

There are many different ways to make money in this changing real estate market.

Earlier in the year, Jack taught an excellent seminar called "Money Matters - How to Make
Money Without Money" During the event, Jack revealed TWENTY-FOUR ways to make money
and/or cash flow with real estate today. The good news is that most of the strategies don't
require any cash.

No matter which kind of real estate market you're in, the strategies that Jack taught at Money
Matters will work for you.

No comments: