“Whenever the market was low in the ‘80s everybody was like, “Wow! If I could have just bought then.”
You’re there. We’re here, guys. The ‘80s is here.
When the market and all the foreclosures and all those empties were there, everybody who bought during that time got in on a gravy train.
Well, the gravy train is loading up and it’s slowly taking off. ”
Overcoming Fears
You know there’s a thing that we did today—and it’s not a “thing,” it’s sharpen the saw that goes along with the Stephen Covey’s The 7 Habits of Highly Effective People. The 7th Habit is sharpening your saw. And we did it on beliefs and how they affect every part of your life whether they’re true or not. And the beliefs that many members have—members and even employees—some people they keep you from moving forward with real estate as far as techniques and objections, overcoming some of those fears and objections that you may have.
You may not even realize there’s that fear there that’s preventing you from moving forward. Say you’ve written an offer on a few properties, but each property just doesn’t work. There’s way ways to look at that and to find out what the real situation is.
Is it really the property doesn’t work, or is it that you’re so scared that you’re making the numbers not work so the property doesn’t work because you’re inflating rehab cost or you’re doing certain things to that.
Debilitating Beliefs
A belief does not have to be real to be debilitating. If you believe all tenants are bad or that evictions are painful, do you think that’s going to stop you from buying property? Very well can. There’s a lot of people that will let those false beliefs hold them back. So make sure that you’re not one of those.
If you feel like you’re too—what’s the word I’m looking for—you’re too busy for real estate, too much going on, I have eight houses, I have three kids and my husband and then I have my commercial businesses. With those commercial businesses and everything that’s going on plus my full-time job, my husband’s full-time job, the easiest thing that I do is my rent houses. That’s also the thing that gives me the most security and comfort in everything that I do.
All those things factor in, but not in a bad manner, not in a bad way. My houses are really a great tool. They’re a great asset. It’s very comforting for me to know that they’re there. And why do I feel that way? Because I’m in complete control of my houses. I’m in complete control of my tenants, and I’m providing a great service for those tenants. And I feel good about it. I sleep good at night, and my tenants like me and I like them. And I feel good about them and I feel good about it, dog gone it.
Why Buy Now?
Now, there was an article—and I’m not sure if Kevin covered this yesterday, ‘cause Kevin said it. The 7 Top Reasons to Buy Residential Properties Now—and this is really a good article.
“The stock market is up and the economy seems to be heading in the right direction, which means now is the perfect time to purchase a residential property. Why now? Funny you should ask. Here are the top seven reasons why it’s a fantastic time to purchase a home.
Number 1: Highest affordability rate in years. After the peak of the market years ago, home prices have been steadily declining for buyers. This equates to a much more reasonable purchase price driving affordability up. In fact, in most markets—aside from those extremely expensive locales—home affordability hasn’t been this high in five-plus years.”
And then it says, “Economic recovery appears to be under way.” This is reason number 2. Now, of course we can go into a little bit of if we are in a true economic recovery or if this is just a stimulated economy from the stimulus, the government stimulus, and everything that’s going on with the housing.
But putting that aside, “Number 3: Demand for lower-end property is on the rise. The demand for less-expensive properties appears to be on the rise, which is indicative that buying is preferable to renting for many consumers. This elevated interest in lower-priced properties shows once again that consumer interests will soon result in a decreased supply driving prices up but currently prices remain low.”
Troughs
You know, you hear about the trough in a system or the trough when you see the graphs in the charts, the line graphs? And whenever the market was low in the ‘80s everybody’s like, “Wow! If I could have just bought then.” You’re there. We’re here, guys. The ‘80s is here.
When the market and all the foreclosures and all those empties were there, and everybody who bought during that time got in on a gravy train. Well, the gravy train is loading up and it’s slowly taking off.
You’ll have time to get on it, but when will you realize it’s time to get on, time to get on that gravy train and start taking advantage of the deals that are out there? Because the market is ripe, low prices, low interest rate, great tenants, affordability, all there.
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