All Forum Posts by: Harrison Painter

I feel that the real estate investment market has already hit bottom, and will stay there for the next 12 months or so. Just as houses can only go so high, they can also only go so low too!

For owner/occupant buyers who are not versed in the real estate business, they will see home prices still drop a little bit, but I honestly feel that the flood of REO properties that are coming our way will actually spur a buying spree, and increase values.

We are already seeing multiple bids on REO properties, and higher offering prices being accepted.

The only real wrench in the system will be the mortgage markets, but they MUST start lending more, and in my opinion, they will. This is how they make money!

We also need to worry about inflation, as I can see a rise in interest rates on the way. That said, we still have that 12-18 month window of opportunity here. So do not wait for the bottom, as it will not wait for you!

Have a Profitable Day Everyone!

Harrison

MikeOh,

This is probably the most I have ever disagreed with you. I feel that educations is even MORE important for a person who will be running their own company. Why not grab as many success tools as possible for your investment war chest?

Jeff,

I do not know any 3rd graders that understand the functions of an HP10bII. :lol:

For that matter, even the most seasoned investor has trouble understanding CFPT and CFAT.

This is the kind of attitude that gets many investors in trouble.

Ryan,

Congratulations on your 11 deals! That is 99.9% more than the average American will even come close to doing! So you are well on your way to real estate success, and I am glad to hear that you are willing to help others make it happen as well. Keep up the great work!

If you feel that NR has helped define who you are, then you have no choice but to be honest about it. I bought the Carlton Sheets course when I was starting out, and that experience has defined part of who I am, I sure hope that doesn't make me a loser? LOL

Everyone,

We all know that many of these guru courses, seminars, and coaches are full of malarkey, but there are many good people that have taken these course, and to lump them all in some kind of generic category is ridiculous.

Most of these courses have some solid basic information, but the marketing and pressure sales tactics they use are dreadful.

That said, their are many people who have fallen prey to their expensive trappings, but have still been able to come out the other side and succeed.

What makes our community so fantastic is the diversity, and number of pathways that people can take to make profits happen in the investment world!!!

Just my two cents! :mrgreen:

Have a Profitable Day Everyone!

Josh, it looks like you might be a guy ahead of your time! :lol:

Where I come from, that is a good thing!!!!

Will makes a very valid point here! The license puts a target on our back.

Ethics always has, and always will be a debatable issue when it comes to agents who also invest.

Case in point: Is it really ethical to offer a distressed Seller a very low price for their property?

The fact is that this is smart real estate investing, but not always smart for a licensed Broker to do. Some would consider that taking advantage of a Seller, and unethical.

So it really depends on your business model.

I really want to get my CCIM and work more in the commercial arena in the coming years. So I have a very set goal on why I keep my Brokers license.

To answer the question about investing primarily in your market area....I answer Yes and No as well.

I will invest anywhere the numbers make sense and where I can create a team to trust on the ground.

The markets change rapidly, and so do the type of investments that make sense.

I thought I would be a big time commercial guy at this point in my career, instead I am rehabbing $47,000 houses!

It is all about bottom line profitability!

Good Luck!

I think the buck stops on the current Presidents desk! :lol:

Look, these folks saw an opportunity to get everything they wanted by taking full advantage of the economic crisis. They did it with a slick marketing campaign of pulling on the heart strings of average Americans, and passed an earmark/pork filled bill that nobody even read.

Just a couple of quick facts:

- Secretary of the Treasury made an "error" on his taxes (For SEVERAL YEARS). Is this really the guy we want running our finance and monetary matters? This is the PRINCIPAL ECONOMIC ADVISER TO THE PRESIDENT after all.

- Henry Paulson was the runner of for "Person of the Year" by Time magazine in 2008. Am i living in bizzarro world here? He ran Goldman Sachs, a company that made A TON of money from the dog and pony show of the 2000's mortgage bubble. Well, maybe if you believe in the "You broke it, you buy it" philosophy. it might have been a good choice. LOL

All I am seeing is a blazing path to Socialism, and I do not like it.

I wouldn't change a damn thing!!!! :mrgreen:

Welcome Sung!

If you are looking for great people and sound advice, you have come to the right place!

Take a look around and make yourself at home.

-Harrison

There is good and bad with a license.

In my opinion, for a person in your position that is just starting out, it is probably a good thing. It keeps you abreast of ethics training, contract education, and the owner/occupant side of the business.

If you feel that it is not needed anymore, you can just terminate the license, but will always have the benefit from the experience.

Good Luck!

We are getting "Zero Down" deals closed.....but many folks are coming in wanting to put money down.

There is absolutely a market for these 25% down buyers in your price points Adam, and also market for CASH buyers as well.

I am finding it difficult to keep up with demand. Not so much due to lack of properties we could buy and rehab, but more in that I am so picky with the properties that we rehab/sell. I refuse to sacrifice quality for quantity.

Folks can take those daisy chain REO tapes and war zone junk and stick 'em......:shoot:

We lose a lot of buyers to others who market garbage, but I am in this for the long haul, and work hard to create clients for life! It might cost me a lot of short term money, but I enjoy sleeping well at night.

My advice is to just keep the focus on a quality product, solid marketing, and treating people with care.........Do that and the phone will ring like crazy, regardless of how much they need to put down to qualify.

Anything you need Adam......you know my phone number!

Good Luck!

P.S. Damn, I just armed my competitor!!! I need to stop doing that!!!! :lol: