Quote:
Originally Posted by Paq
and yea, i'd say this is much worse and longer term than the 87 or dotcom crash, but yea, i'm trying to figure out how to make money in the meantime from it  |
No kidding. I think given the right opportunity I could make money in real estate right now. Maybe not right now, but the idea of putting some into it tweaks my interest. I have a good deal of confidence I could buy a property and invest some time and money into it and make some cash in the long run. The property would have to be in the right market, be the right price (damn cheap) and need renovation. I have a back ground in home construction (built the last house I lived in) and remodeling. I could buy the property, move in and work on it over the next couple years. I'm almost certain money could be made, just not sure I'm that ambitious. There's also that pesky "almost sure." Would hate to put money, time and effort into what could become a money pit. But if you look at people who bought during the 30's those who could hold out for 10-15 years made money... good money, very good money.
I have a friend, actually a couple friends, who've bought foreclosures and they're sweating big time. One has a renter who's paying the paper on the property (but not taxes or ins.) Both of them are in a position to make the monthly payments. Funny thing is the friend with the renter is freaking out more then the one who's going completely out of pocket. I say if they can hold on they'll come out good. It's just a matter of time.