Monday on “Your World w/Neil Cavuto” (Fox News, Oct. 6, 2008) Donald Trump announced that he is not slowing down his real estate investing activity during our slumping economy. On the contrary, Trump made it clear there are good real estate opportunities to be had at “fire sale” prices that real estate investors should capture.
So how are you reacting to this financial chaos? Are you investing, or has this uncertain financial market got you frozen in your tracks? If you are frozen, you might be missing one of the best opportunities to invest in real estate that we have had in a long time. Consider this:
- There are numerous “fire sale” deals available for real estate property throughout the United States
- Interest rates are still generally favorable
- Our economy will survive, so it’s just a matter of time before your investment in real estate is worth more than you pay for it by virtue of a greater demand for it
This is not the time to bury your money under a mattress. Yes, it’s comforting to be able to put your hands on it quickly, and perhaps like Donald Duck’s eccentric Uncle Scrooge, be able to roll around in it, but it will cost you big time. Inflation alone will devalue your money; your money won’t be worth as much next year as this year.
Here’s a better suggestion.
First, develop an investing plan. Then locate a real estate professional in your area that understands income-producing property and has a track record for investment property sales and build a relationship. Let him or her know what your investment objectives are and have them start looking for profitable investment opportunities.
If you know enough about the nuances of real estate investing and have a good understanding of your local real estate market, great. Then start kicking the bushes yourself.
The point is not to neglect doing something. This slumping financial market is unnerving, certainly, but our economy will survive and bounce back and what you invest into today will make you money tomorrow. If you have the financial means to invest in real estate without jeopardizing your welfare, then this is not the time to run for cover and hide. Instead, follow in the tracks of the Donald, during this slumping economy, look for, pursue, and seize investment opportunities with abandon.