I read an article the other day that outlined the plight of the small independent real estate investor and it took the time to explain in some detail the requirements for buying property today! In a word “CASH”!
Now I will always go out and find some cash when I am running a little low or to purchase a great property. I will do most anything to find the cash (most legal, moral and ethical things) but for just an ok property not a good one but just ok I would rather stay home and play with the children. It has been about 2 years maybe 3 since this little econimic slow down has happened and while I have seen a few great deals it is certainly not what I expected in terms of cheap cheap cheap property available for me to purchase. So until the banks get really ready to give away the properties I am for the most part sitting on what little cash I have and not going out to find any spare change to purchase properties.
CNBC.com Article: With No Credit, Housing Investors Dig Deep
Nothing like getting to work on a Monday morning and finding no fewer than four dismal reports on the housing market in my “Inbox.”
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