Posted : September 25, 2009 2:01 PM | Posted By: Brian Rhodes
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It continues to be a very interesting time in real estate. We are still actively doing deals and seeing some of the best best deals since we have been in business. Here are some trends that we are seeing:
The rental market is seeing increased pressure as the number of rentals explode. This typically means that you need to market better than your competition or lower your price to get your properties filled.
Financing for investors seems to be increasingly difficult to get. This dictates the need to buy and sell creatively. You can do this by using owner financing, subject-to, lease options, and private money. If you are not using some or all those techniques you or are either limiting the number of deals you could do or probably not doing any deals at all in today's market.
Retail prices have not fallen as much as wholesale prices. This means that the price of what you can get for a wholesale deal (traditional sold only to an investor) has fallen dramatically (50% or more) in the last year and half versus only a 15%-20% fall in retail. This is due to financing, the supply of wholesale deals, and the challenge of retailing in today's market. This is a good thing if you can take advantage of cheap prices and can hold.
More investors and even non-investors that have houses (Sometimes their previous residence) are holding houses to rent than previously. Many times this is not by choice, it's purely because they can't sell them. This causes a large supply of rentals and sometimes opportunity with frustrated landlords that never wanted to be one to begin with.
These are some observations that we are seeing in the marketplace. We would love to hear your opinions if you are seeing similar things or something different. Email us at info@eaglehousedeals.com and let us know.
Posted : July 31, 2009 2:32 PM | Posted By: Brian Rhodes
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Last night ABC News interviewed investor/educator Bruce Norris about real estate investors being a solution to the current housing market. In a surprisingly positive piece Bruce eloquently explains why investors should be rewarded and helped in their efforts to fix up houses and neighborhoods. Bruce has always been a very pro investor advocate and we appreciate his contribution to explaining to the media and the public that investors are not just vultures as explained by the reporter. You can watch the video here.
Bucky Fuller had this to say about the abundance mindset:
"The condition of planet earth is abundance. Our belief in either scarcity or abundance determines how our financial, legal, political and military systems are set up or exist at all.
Scarcity and abundance are foundational and contextual ideas. They each give rise to a distinct system of thought and a number of rules, characteristics and measures which only make sense within their own system."
Above all, the abundance-mindset is a choice. In other words, you choose to look through the lens of scarcity, or through the lens of abundance. There is no in-between.
"Do ... or do not. There is no try." ~ Yoda
Because there are are so many differing opinions about abundance, my colleagues and I have decided to conduct this worldwide survey get more opinions - your opinion - on this highly debated topic.
My JV partners, Alex Mandossian and Scott Martineau are hosting the Virtual Abundance Expo next week, so I figured this a great opportunity to host a survey and attract the best single sentence that clearly defines abundance.
What to do now: Please use the comment box to write your definition of abundance. The survey ends at 5pm PDT on Monday, July 27th, right before Jack Canfield's keynote speech for the Virtual Abundance Expo.
All the definitions will be gathered and tallied the next day and five finalists will be chosen for the final vote.
If you are one of the five finalists, your definition of abundance will be personally evaluated by our Virtual Abundance Expo faculty.
The top vote-getter with the clearest and most concise definition of abundance will be personally interviewed by Scott and Alex as a honorary faculty member for Virtual Abundance Expo.
So what do you say ... are you game?
If you are game, then take a peek at these 9 abundance quotes to get your heart and mind moving...
"The only factor becoming scarce in a world of abundance is human attention"
~ Kevin Kelly in Wired
"Nothing amuses me more than the easy manner with which everybody settles the abundance of those who have a great deal less than themselves."
~ Jane Austen (1775 - 1817)
"Abundance is, in large part, an attitude" ~ Sue Patton Thoele
"Abundance of knowledge does not teach men to be wise"
~ Heraclitus (540 BC - 480 BC)
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little"
~ Franklin D. Roosevelt (1882 - 1945)
"Unfortunately, the balance of nature decrees that a super- abundance of dreams is paid for by a growing potential for nightmares"
~ Peter Ustinov (1921 - 2004)
"Abundance is not something we acquire. It is something we tune into"
~ Wayne Dyer
"Expect your every need to be met. Expect the answer to every problem, expect abundance on every level"
~ Eileen Caddy
"Not what we have, but what we enjoy, constitutes our abundance"
~ Epicurus
Now it's your turn ... type in what you feel abundance means to you. Go ahead ... the simple act of thinking about it will instantly improve your day.
Posted : June 17, 2009 3:17 PM | Posted By: Brian Rhodes
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Just when we think we have seen the best deals ever there seems to be more and better deals. Over the last 60 days we have seen some of the best values in investment property since we began investing. The retail market for houses has seemed to remain fairly flat this year but wholesale prices have continued to decline. Investor financing is increasingly difficult to get which further contributes to the decline in prices. Banks still have loads of foreclosed inventory that hasn't hit the market yet but by the prices they are asking you have to have a lot of patience to focus strictly on REO's. In fact, the biggest REO agent in town now requires a 10% deposit up front just when you write a contract! If you don't have the time or the money for that you NEED to check out our deals below!
All of this probably means the time period to be able to take advantage of cheap distressed properties will last longer than once thought. This should be good news for all of you! Your goal needs to be able to seek ways to buy deals without being dependent upon banks. This can be accomplished with owner financing, buying subject-to, and utilizing private money. To do this properly you need to have the right training.
The great thinker Eric Hoffer once said "In times of change, learners inherit the earth, while the learned find themselves beautifully equipped to deal with a world that no longer exits." Investors that understood and implemented old techniques are no longer around or losing their shirt now. You have to educate yourself on the techniques that will allow you to take advantage of these unprecedented times. Get educated and take action today!!!
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