Posts tagged as:
highest and best use
FIRE SALE! Do you buy “on sale” or pay full price?
Right now we are seeing one of the greatest fire sales on real estate that our country has ever seen. Many pundits are comparing it to the real estate market that we had in and after the Jimmy Carter days and the Great Depression! Talk is serious that pricing is about to bottom out and will start turning around.
While that could take a little while longer the time is great for buying at a discount. Take a minute and think back to January 1, 2000. If you can remember that far back, that is when pricing had hit a low a few years prior and had stabilized. As we moved forward from that day, prices went through the roof.
I know that if there was one of us that could create a time machine to go back we would so that we could buy anything and everything that we could get our hands on. To know what happened to pricing from January 1, 2000 forward would make anyone buy. I owned over 70 units then and wish I had 700 or 7,000 looking back. We are at January 1, 2000 again figuratively. Prices are higher because we have gone through eight years, but compared to what they are going to do, they will be considered low, even historically low.
WHAT ARE YOU GOING TO DO ABOUT IT? WILL YOU ACT OR SIT ON THE SIDELINES LIKE YOU MAY HAVE 8.5 YEARS AGO? WILL YOU MISS A REAL ESTATE SALE THAT COULD SURPASS ANY IN HISTORY WHEN IT IS ALL DONE? WILL YOU CREATE UNPRECEDENTED PERSONAL WEALTH OR MORE EXCUSES?
I know that I am committed to doing something about it for me AND the students in the MWI system. We are embarking on an urgent tour, called: “The Great Real Estate Liquidation” One-Day Boot Camp. I would strongly encourage you to make immediate plans to attend this mind-blowing event. Admission is free, and the only condition is that you USE the techniques you learn. I want to make sure this valuable training is available to anyone that has a desire to learn and take action.
We are teaching the strategies that I and other successful investing millionaires are using to create unprecedented wealth in this time of real estate opportunity. Topics include, foreclosures, seller financing, bank seller financing, use changes, highest and best uses, rocketing rent increases, cash flows and much more.
DON’T MISS THIS OPPORTUNITY LIKE YOU DID IN 2000! WE’LL SEE YOU THERE.
{ 3 comments }
Carpet and Paint Stinks! Use Changes Rule!
I just finished a 2-day “Highest and Best Use” camp and had a wonderful time. One of my students told me about a old beat-up home that they owned on a big lot in a prominent area. They excitedly announced that they were selling the property to someone else for about a $350,000 profit!
This old decrepit home sat on a large enough lot for a six-plex to be developed and built. They had taken the property through the city platting process and gotten a 6-plex site and building plans approved, recorded and permitted. A builder was buying the property from them for a big profit. This was one of their very first deals.
It is amazing how much more people will pay for a planned, platted and permitted six-plex apartment building than an old house that needs some remodeling. This is one of the reasons that I rarely do carpet and paint fixer uppers. Why make $35,000 when you can make $350,000?
This student of mine is also considering selling the property for a cash out profit or a portion of seller financing so that they can have residual income for a long period of time. Tough choices? I am so excited that years ago I decided to focus on what real estate can be instead of what it is!
I co-wrote an incredible book on this very topic. It is called, “The Highest and Best Real Estate Investment.” Take a look at it. It details how to see more than just carpet and paint in the market place. Time to start looking and acting differently if we want to get different results than anyone else is getting.
{ 1 comment }
Another Success Story
I was excited to hear about a couple of students of mine, Andy and Warren Langsford, and their amazing success. So many investors today are so focused on the bad market, bad lending situation, falling prices and other things that they can’t see the positive opportunities that exist.
The sad reality in life is that we get more of what we focus on. If we focus on negative things, we get more negative in our life. If we focus on positive things, we get more positive results in our life.
Andy, Warren and their team and Venture Real Estate Group in Seattle Washington have chosen to focus on the great things that our market affords us. They have found great success using seller financing principles in property purchases and the powerful “Highest and Best Use” tactics that I so strongly espouse in my best selling book.
The opportunities are out there for those that choose to be successful investors. The market is ripe with eager sellers, great terms, lower construction costs and captive tenants. One of VREG’s investments was purchased with 91% seller financing from the seller for interest only payments for a 3% interest rate. They have a 3 year term with an option for a fourth year. What a smoking deal!
Time for others to follow this fantastic example!
{ 1 comment }
