When most people hear about a bleak outlook of our nation’s economy it can be extremely emotional, concerning and in some cases, all-consuming for the psyche of the average citizen. Especially if this news comes during the holidays when people really feel the strain of a tight budget as they try to buy gifts. I both understand and have been there plenty in my life. What I came to realize in the real estate business, is that there is a large body of individual you are actually happy by news of a pending depression. Some are even downright giddy. Are they nuts? No, they are rich and they mean to be more so.
As I have discussed in other articles, when it comes to your success with real estate, timing is everything. So long as you stick to the code, this notion will never fail you. Apply that to a broader picture with our entire economy and the opportunity to acquire assets and equity with huge future gains potential is staggering. The key is to be ready, not if, but when our economy cycles through another recession as it right now. That is the ideal time to buy consumer staple stocks, invest in businesses & most importantly, find highly discounted properties in good areas for incredible gains within a 3-5 year cycle. Real Estate is the industry savvy investors flee to when all other avenues collapse. By broadening your exposure to world of realty with a good foundational knowledge, You will be able maxi. Even if you do not have the means to buy a property outright, many investors who do have the means take out a loan if they need one or not through an intentional OPM (other people’s money) protocol which frees up cash to upgrade, remodel or incorporate features that are going to aide in a top dollar resale.
This is where most people gripe or toss my advice aside as too lofty for the average man. I am, like you, an average man from modest beginnings and have seen the average man get to places above their means by simply and consistently saving, building credit, honing an understanding and pouncing at a time when everyone else seems to retreat. This is the faith & execution that is changing my life and because of this awareness, gave witness to tremendous growth of the portfolios of so many clients here in Northern Nevada. The first step is here for you: Create a savings acct, pay down bills and watch the economy. The absolute reason wealthy people do not panic in a bad economy is because they understand that beneath the panic lies incredible opportunity. Inherit this idea as truth and you will have initiated your path as an intuitive investor, and it is never to late. Should you need further aid on any of these subjects, do not hesitate to text.
Written By :
Devin J Reese, CRS
Real Estate Advisor – Re/Max Gold
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