Put On Blinders?

Question

I've been through a number of forums today and there seems to be a lot of "doom and gloom" out there relative to REI in general and wholesaling in particular.  My take on all of this is that Fundamentals work and Stay Focused.  I'm putting on my "blinders" and not allowing all the negativity to affect my activity or attitude.  Wholesaling properties is my main activity and I only see positives in that people who do not want these properties will want them even less when they probably need to cash them out more than ever now and on the other side other investors/rehabbers are always looking for great deals.  It's always about the "numbers"!  2009 is going to be a great year for Real Estate Investors who "Put on Blinders and Stay Focused!"

Will Barnard · Answer

Doom and gloom for the general public is $ signs for RE investors. The only hurdle is finding the ability to utilize leverage.

Ryan Fagan · Answer

I agree, everyone that knows Iâ€™ve gotten into REI say Iâ€™m crazy.  A good plan is a good plan.  If the numbers work and you have an exit strategy why not jump in?
              
            Personally Iâ€™m being careful and not buying anything that would be a stretch to hold onto if I canâ€™t sell it or rent it right away.  And it is working well so far, no doom and gloom here.

Michael Rossi · Answer

Robert,

You are absolutely right that there is a lot of doom and gloom out there.  There is also a lot of reality to go with the doom and gloom.  However, no business can be successful if it can't survive the good times and bad.  In addition, very bad economic times also provide unprecedented opportunities in the real estate business.  So, "Put on Blinders and Stay Focused!" sounds right to me.

Mike

Matthew Gil · Answer

Doom and gloom?  Not me, I love this environment.  Cheap properties in strong rental markets, what's not to like?

Just wish banks would stop hording their deposits and lend to those with strong financials.