11-27-2004, 05:01 PM
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Confirmed User
Join Date: May 2004
Location: San Diego, CA
Posts: 1,007
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Quote:
Originally posted by HighRoller
I am a full time real estate investor
I got out of Las Vegas with my summer condo
just in time, they were the hottest city for 3-4 years
homes doubling and tripling. Over a 45 day period
it went from about 3000 listings to 14,000 listing, people are having a hard time selling now. We are in a slow market up here in Minnesota. Arizona has the fatest growing cities now by price and population. Florida has some great appreciating areas.
California is just over priced, yes their is a big demand now, but that market is too volatile, it's very much like the principles of the stock market where as the bubble will have to burst.
Now my market when it is bad goes up only 2-3% if it's really slows down, other markets, maybe even Cali can definately go down, Check market cycles of the last 30+ years, in certain pockets homes have gone down 20-30% quickly. It's possible, not going to happen everywhere but it's possible.
Wait until interest rates go up
from 6% to 9%, that will cost people 50% more, which they won't be able to afford. Did you know some markets haven't appreciated for 10-20 year periods before? The last 5 years overall has been a major increase in appreciation, yes, but much of that is because all of the renters became first time homeowners that could afford homes once the interest rate went from 9% to 6%.
I study real estate investing full time everyday, I have the equivalent of thousands and thousands worth of top notch education of ideas people wouldn't believe cooler shit that the adult biz, much cooler.
I love real estate it will keep going up, and adult it awesome to, just be careful, people are walking from big deals in vegas now that it started slowing down.
I have homes 60-70% market price every day where I live come across my desk. I had 6 homes just last week worth Market values of $1million for $700k, just because it's tough to sell $300K homes in my market right now, part of this is just because I'm trained to find them, but their are definate market cycles in many areas of the country. Big indicators are also an influx in jobs in an area.
Anyone interested in where to read up and learn about investing and all the great stuff, let me know I'll show you where some good free training is.
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Hey, I'm always interested in reading stuff like that... If the free training is on the net, could you just post the links here?
Thanks.
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I like ducks.
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