Last Friday CNBC interviewed me on the state of the real estate market as it relates to investors, foreclosures, short sales, and a few other things. They also spoke with one of our great investors in the Philadelphia area who was able to talk in more detail about what he is doing with short sales, and how the market is for him.
In short, I said that now is a great time for residential real estate investors. It is separating the serious business-minded investors from the “seminar junkies” who have been following a formula to buy (flip) houses, and don’t know what to do as the market shifts.
For the serious business person, you must change with the times, constantly re-evaluate your strategy, and not get complacent with what works today – because it likely won’t work tomorrow.
With the glut of inexperienced investors being churned out by afternoon TV shows, late night infomercials, and “real estate gurus” – I believe the market shift is a welcome sight for most experienced investors.
Be looking for the CNBC segment sometime later this week!