I have been buying and selling real estate since 1985. I started purchasing in the mid 80's when the banks would finance their own repossessed properties. We would purchase condos and rent them out and make a killing doing it. I ended up buying 10 condos.
In the late 90's I started flipping homes and did very well doing 100's of rehabs and selling the homes quickly. I actually had a home that sold 3 times in six days. When a person would fail to get the loan docs in we I would raise the home $10,000 and sell it again. In those days it was a sellers market and you could make good money doing it.
Then came the crash and everyone thought the real estate world had ended and there was no coming back. Homes were being sold for a fraction of what they where being sold for and the banks got their wings clipped on loans.
Money from banks quit flowing and the market changed, Private lenders and cash buyers started eating up the inventory. Black Stone purchased a lot of homes and leased them out and making billions doing it. Others created ways through IRA's and Hedge Funds to collect cash to purchase these homes.
What is everyone saying today? WOW I wish I would have purchased properties back then. Today's market consist of all new ways to get loans. From Banks, IRA's, Private Lenders, Hedge Funds and other non-traditional financing. There are literally Trillions of dollars in the private mortgage world. That is why there will probably not be another real estate crash in the near future. The lenders have changes and a lot of homes are purchased with cash.
So looking at the real estate market today we see many buyers and not a lot of inventory. Basically more money than homes are available in today's real estate market.
Looking at real estate today if you can get a home to live in it or lease out you can make money. With the low inventory buying real estate in the right location can get you cash in the future. Nothing is guaranteed, but real estate almost always goes up and their not making new land.
Looking for that special home to live or invest in? I'm Brett call 216-703-5740 EXP Realty Ohio and 602-363-6551 EXP Realty Arizona. We help people find their dream homes to live and invest in. We have done literally 100's of homes and want to be your Realtor.
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Thank you