So call me Pollyanna, but I see wonderful opportunities in this market for real estate investors, first-time home buyers and those who always wanted to invest but couldn’t or were too scared before. It’s not for the weak of heart…and you have to be willing to do your homework, and seek good advice. But it’s those who are willing to take some risks, who gain the biggest rewards!
I recently became a member of BiggerPockets real estate investing on-line network, and have found some incredibly valuable articles, information and networking opportunities. Today, there was an article “The Good News of Recession” highlighting the advantages to investors of buying in today’s market.
It’s nice to hear my own thoughts confirmed by national ‘experts’. But it’s not rocket science, more like history! If we look at what has happened in the US in other ‘recessions’ or ‘down markets’ – it’s the people who were wise (and brave) enough to buy at that time who in the long run created tremendous wealth for themselves and their families.
Look at what happened in the Depression, the 70’s and the 80’s. If you can afford to buy real estate now – it’s the best time! Buy something where you can feel confident that there is some built-in equity at today’s values, and in an area that logically should improve in values. This is a time when we need to follow the traditional “old-school” real estate investing advice:
- Buy something you love – that you could see yourself in, because worst case scenario you might need to live there someday. Unlike stock, real estate is an investment you can live in 🙂
- Buy the worst house on the best block! That way improvements you make will bring it up to the values already established in your neighborhood.
- Create passive income – it’s a great time to buy rental properties. I have a vast network of top agents I can refer you to if Kauai is not your market.
- 1031 Exchange – learn about how to gain in real estate without paying taxes, until you’re ready to! I have a website under development with in-depth information and resources. Contact me at 1031@SusannaKunkel.com with your questions, and feel free to visit some of my favorite sites: www.orexco1031.com and www.1031exchangeadvantage.com. Your first investment now, can grow into multiple streams of income, by using 1031 Exchanges and leveraging your property. It can be confusing, call me and I’ll talk you through a vision of how this works.
Bottom line (no pun intended) if you’ve ever dreamed of investing in real estate – now is the time!