For nearly 18years I’ve been in Real Estate and I can tell you some crazy stories.
Luckily, I have lived through markets that go up, down and crash harder than we’ve seen since 1929. Resulting in one thing I know is for certain, a knowledgable Real Estate Agent can maneuver in any environment.
I’m going to share with you the secrets I learned from my experience and my mentors, in surviving the worst economy in eighty years.
I know Developers who lost 80 millions dollars on one project due to bad timing, over estimating the market and unscrupulous Brokers directing them down the wrong path.
As an expert in my specialty, these Developers asked me to analyze the project to see if there was any way I could help them salvage it before taking an enormous loss.
“I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.” ~ Warren Buffett – (Real Estate Mogul)
One of my strengths in Real Estate
(aside from elite client service and strong negotiations) is breathing new life into stale property and successfully closing deals. Unfortunately for them, this project was doomed and there wasn’t anything I could do to save it. Being of high moral character and reputation, I provided my honest assessment and refused the listing. Subsequently, sadly they went BK.
During the Real Estate and mortgage industry crash of ’07 my clients and I were still making money. Therefore we weathered a hurricane that was catastrophic for most people.
Did we feel the pain? HELL YES WE DID! But we didn’t lose our shirts, we were able to tread water and a select few of my clients who are “long gamers” flourished.
Before I get into the details of Real Estate investing, it’s important to understand the dynamics of a downturn market.
The Oxford English Dictionary describes a downmarket as:
Real Estate Agent in two states, Nevada and California. I came to Las Vegas because I believe in the power of this market. It’s an amazing time to be investing in Real Estate in this town.
Regardless if you’re a savvy Investor, a small Investor or a home Buyer, Las Vegas has something to offer.
You can purchase a 1 or 2 bedroom condo for $100,000 with 10% down at 4.71% current interest rate over 30 years.
If you live in it, thats cheaper than rent and if you rent it, you more than cover your mortgage while earning equity and tax write off.
Real Estate in Las Vegas continually rises at a steady pace. The city and Developers are working together to prevent a crash by keeping slow growing inventory and affordable housing. This helps make the market a safer investment for everyone.
If you or anyone you know are looking to buy or sell Real Estate in California or Nevada please send me a message with any questions you may have. I’m always happy to help with free advice.