Usually the bigger the boom the bigger bust. Although a bust in the housing market is unfortunate, for investors it provides serious discounts and the window for virtually anyone to get started.
Why? Foreclosures equal more inventory, and foreclosures plus inventory equal deep discounts. In a area hard hit there is desperation. Desperation creates opportunity for those who are not positioned to be the classic investor (buying up houses with cash) to have just as much action as anyone. Banks are hoping that someone, somehow will move the properties off their balance sheet and sacrificing a lot of equity in the process.
If you happen to be investing in area where negative equity reigns supreme, you are likely poised to take great advantage of Matt's 25:1 strategy or similar techniques of playing the numbers game for deep discounts.
Is anyone working any of the areas specifically listed on the chart? If so, please share your experience investing (or getting started) in a top 10 negative equity city.
http://finance.yahoo.com/real-estate/article/107041/House-Price-Drops-Le...
Who is Dean Graziosi?
Are People Actually Successful?
Does Dean Practice What He Preaches?
What Deals Are The Students Doing Right Now?
Already on top of it..
I have been working with phoenix area and the possibilities are awesome!.. Thanks for the post
Phoenix
I have a couple Short Sale listings that are valued at around 50% of what they were purchased for in 2007. The home I purchased six months ago at 65% of FMV has lost most of it's equity. Homes need to be purchased at considerable discount to overcome the depreciation in value until this bottoms out. There are plenty of deals out there, and a lot of competition for the most popular areas.
Al
scare to start it
I'm file on Chapter 13 and bad credits, I'm very happy in real estate field. But I don't know how to make deal kill, even I read Dean books but still confusion. Please have someone help me how I start it. I live near by stockton city, Ca. Thank you so much
Van2ngoc
my email van2ngoc@****
underwater
port st. lucie fl. is hard to work. the taxes are too high. my contacts stay away from there, and these are all investors,you would think, with the walmart distribution opening there and creating jobs,it would`nt be so bad.
Havent found much
I have been looking for deals in Reno and havent found any yet as people in Reno are willing to pay the high end prices for homes here because they think they are a deal do to the perception of what the market was when it was booming here. I have only found one home I am persuing to that even meets the requirements of a deal going in. If anyone can give me advice it would be helpful
Found something now
After making my post here and after looking at a daily forclosure e mail list I recieve i just found two properties here in reno that are good deals and will need help financing them. One has $47000.00 in built in equity and the other has $49500.00 built in equity on the low estimate side.I am so glad that I read this post because I was getting discurraged after looking for deals in this area for the last three months and not finding any. Thank you for this post
Las Vegas and Negative Equity
Hi Everyone,
I'm BRAND NEW to this but EXTREMELY HUNGRY!!! So any help with this would be so awesome! I Live in Las Vegas, NV and as you saw above, most houses are "Upside Down". So how do I pick these up and do an IEE or Assignment when there is negative equity? I'm not asking for a full recipe book, I wanna learn while doing. But I'm at a total loss
Can someone point me in the right direction at least?
Thanks so much! And let's all keep moving forward to make our dreams realities!
MrLazz
The best deal
When you take action is when you get the deal, It is all about chance! Number one taking a chance on yourself, The rest of it...Information!
In any market you can succeed.
rand
The great state of Florida
P.S.And do not forget 2 for 1
Getting Started
I am trying to get started in the Merced area, but am afraid to start making offers on homes until I get a couple of buyers in line. I have no money to put in so I plan to do assignments. I've started posting some ads online, but haven't got anything.
PLEASE HELP me to get started in this market.
New York
I hope it's the same over here
Already on top of it!!
Hi Anita,
Just thought I would tell you what an inspiration you are watching all the comments thru this site. I like your persistant and enthusiastic attitude towards things. Looking foward to sharing my success with you. Thanks again!
Sincereley,
Lubertha
Don't Be Afraid ........
Don't be afraid! I filed chapter 7 about 30 days ago. This is an opportunity to get back on the right track.
impower yourself with the info available on this site and thru the Sccess Academy. This is the best way to resolve fear. Face it head on with knowledge. Study the book. It may take reading chapters over and over.
You can start by deciding your goals. By which method of investing is right for you. Start looking for a realtor to work with. Your attorney or title company. Getting business cards. There's lots of things to get started with. Just remember to keep moving forward each day. Don't allow doubt to scare you away from this life changing experience! Much success.........Lubertha
don't be afraid
Thank you very much. I'll try. If you don't mind can I have your phone.
My cell 510-754-1266
Van.