Do Your Techniques Work During A Recession or Depression? - Real Estate Investing

http://www.joecrump.com/youtube http://joecrump.com/freetraining - Joe Crump's Video Blog series teaches real estate investing. Learn techniques that allow you to buy dramatically below market value, with no money down and with no credit check. How to find foreclosure deals, short sales and flip properties that will make you chunks of cash within 14 days or less. Six Month Mentor Program http://www.ZeroDownInvesting.com Read Joe Crump's Blog: http://JoeCrumpBlog.com/ Read the Transcript: The real estate investing system I teach works no matter what the condition of the economy is. In fact, a struggling economy is the perfect time to use it - let me tell you why that is and how it works. "Do your systems work under the current market conditions? I'm referring specifically to people having less money these days to buy houses and fewer mortgages being made, or maybe the difficulty is all in my mind?" -- Hamaro Castagno, Laredo, Texas Joe: No, it's not in your mind. It's definitely happening. There's definitely a problem here. We are in a recession. The market housing crunch is here. The mortgage crunch is here. People can't buy properties; there is a problem. Joe: But, this problem in the economy has made a unique opportunity for what we do. Now, we're in the perfect storm for investing the way I teach, using no credit, no down payments, seller financing -- these are the things that work right now. Absolutely -- this is the perfect time for this. Joe: One of the reasons it works is that there's more people who can't sell their property and more people who don't have much equity to pay a realtor, so it makes it easier for them to be willing to sell to you seller financed. They have to make payments and if they're not living in it, then they're going to go into foreclosure, or they're not going to be able to move, so you can take over those payments for them and take it over with "Subject-To". So, there are lots of great opportunities. Joe: This is also a great way to sell properties because there are so many people now that can't get mortgages because they don't qualify. The old stated income loans are gone, the BC paper for bad credit people, etc. -- those are gone -- most people have bad credit and don't qualify for a mortgage, so that makes it possible for you to find lease option buyers. Joe: They're *everywhere*. It's so easy to sell a lease option property these days. Now, that doesn't mean that we're not having more vacancies. We're getting more vacancies in some of the rental properties we have simply because people are losing their jobs as well and they can't make their payments, but then it's easy to fill them again. Joe: So, you have some of them that are good and some of them that are bad. If you're holding the properties long term, you're going to have a few more vacancies these days. If you're just flipping them and taking the cash, you can make that happen all day long. But you also want to keep some of these properties, because that's going to make you rich in the long run. The cash flow is nice; it gives you a great lifestyle and you can make a lot of income and a great hourly wage. Joe: With most of my students, when they're working at this and they're being successful at it, they're making $2,000 to $5,000 an hour at it. They're working 10 to 20 hours a week doing this as a full time job and making twice as much money as they were making at their regular job. You can make a great income with this. Joe: But if you want to get rich at it, then you have to keep some properties, and that requires a little bit more risk, because there's a possibility that you might have a vacancy and might have to make a payment, but if you've got the income coming in from the cash flow and the other part of the business, that's not going to be as scary for you; it's going to be a great investment for you. "I appreciate your time reading my question. I want to let you know that I already have your first book but I don't feel confident enough to brave the streets of Laredo on my own and to start doing offers without someone who could help me through the first deals. I feel insecure because I think there's so much that I need to learn. I've gone to the point of doing the cheap signs, the ugly signs, and gone to the neighborhoods that I plan to work in, but I've not worked up the nerve to put them up yet.".... To read the rest of the transcript and more of Joe Crump's articles, click here: http://joecrumpblog.com/do-your-techniques-work-during-a-recession-or-depression-2/?utm_source=Youtube&utm_medium=EndLink&utm_campaign=Youtube

Comments