That’s all we’re hearing lately. The only thing the so-called “experts” in the media are talking about is how horrible everything is. Look, there’s no doubt these are unprecedented times in our country, but if that’s all your hearing and choosing to listen to, eventually you’ll start to believe you’re one of the victims as well. And, of course, with all the bad news, real estate is at the forefront.
I get calls and emails everyday from investors wanting advice on how to navigate this “crashing” real estate market, and ongoing comments about how real estate values are dropping like a rock. Just the other day a guy emailed me about a deal and made a comment about how real estate values in the area were “dropping by the week”. Geez, do people ever do their own homework? I don’t know where this guy is living, but actual home prices in the entire Dallas area are only down 2.7% over the last year ( Source: Case-Shiller index as of 10/28/2008)! That’s the entire area. There are many pockets in the metroplex that have continued to increase in value.
My point is this: While not turning a blind eye to reality, I see the most successful entrepreneurs spending their energy looking for the opportunities that have been created by the current “mayhem”. They’re working to figure out how to adjust their businesses to capitalize on the current situation. There is huge profit to be made from the many deals available in the DFW area right now, so the key is doing more thorough due diligence, strategically planning your end product, and more importantly, knowing your exit strategies for your deal.
People still need a house to live in, and despite what you hear, there are plenty of buyers who can still get a loan, and they’re buying homes right here in Dallas/Ft.Worth. I have the proof - loan request payoffs that we receive daily from our customers at WeFundHouses.com. Be assured, you are in THE BEST metro area in the country to be a real estate investor, no matter the state of the economy. So the question is: Are you adjusting your business to take advantage, or are you letting yourself be a victim?
