Will we starve in our old age when we should be retiring comfortably?
I'll go out on a limb here. That stimulus package scares me to death.
There's a lot of pork. The people who came up with it even admit it.
It's called doing business in Washington. Change we can believe in, right?
We know the problem. What's the solution?
Real Estate.
We need to invest like we've never invested before.
Why? The deals will be out there.
We're not sure where the bottom is- we talk a lot about that- but regardless, land and properties will be your best bet, we think.
Forget the stock market for now.
Inflation's Arrival
Then I think inflation is coming next after this recession is over.
Real estate is great for inflation. You buy now using cheaper dollars. You sell later after the prices go up.
That's a concept your six-year old can understand.
All of this is coming from my 82- year old Dad who has been investing for over 50 years- in good times and in bad.
He's the one who talked my grandparents into investing in a property away from town on a semi- busy highway when he was 16, in 1942.
They bought the 3 acres.
They lived off that property. It fed them literally. They raised a garden and canned the food. They always had a pig they killed every fall. (I remember one of the killings when I was three.)
I won't go into a lot of detail here, but that property later turned into a strip center. My Dad had inherited the property from my Grandmother, which became the middle section of the new development. He sold out last, of course.
Then he did a 1031 and recycled the money into into condos, which we are living off of now , along with other properties.
That's personal info I just shared. We usually don't like to reveal how we really make our money. No one really does.
But I think you need to know. You need to know we've been through bad times before. Recessions, a Depression, etc.
This is a recession. A whooper. Obama will reveal that a little at a time…
Folks, I think it's going to get worse. And I'm sorry, but the speech yesterday about don't ask and we won't tell, mainly because we don't have the answers terrified me.
I'm not going to sugarcoat this.
What I'm going to do is work harder than ever with the properties we have. I'm going to continue to build good relationships with our tenants. And I'm going to look for new deals.
That pays off handsomely.
Good Tenant Relationships
I rented one property Sunday to a very good tenant who is in another property.
That was welcome news in February because this property has its challenges. The property he's coming from will be much easier to turn around and re-rent.
How We Cut Down Wasted Time Showing Units
And we're going to show you some of our new strategies for getting tenants online and building relationships with them through e-mails so that when they show up to look at a property, they're half sold.
That will cut down on your wasted time waiting for prospects who don't show up for appointments- we don't have time for that kind of foolishness.
We need to make every moment count during the next year or two.
Good luck and don't get discouraged. Remember fortunes can be made in times like these… but you have to work smart.
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