Fast is Still the Sexiest
|
That is FAST CASH. Despite the fact that we are in a down market throughout the better part of the entire country, and we keep preaching “buy and hold, buy and hold” logic never replaces the allure of fast and sexy cash. Everywhere I go, there are new investors entering the market, not for the common sense marketing strategy of holding properties which will create true long term wealth for you, but rather, that good old fashioned “GET RICH IN REAL ESTATE TODAY” why on earth would you wait or want to get rich slow philosophy. Well, there are a few reasons…First of all, there are a ton of great deals out there right now for those of you willing (and brave enough) to have tenants for a little while. There is so much inventory on the market that you can really negotiate a sweet deal, then you have the luxury of waiting a few years and can get top dollar when you sell, while your tenant has been paying down your loan. Another reason that you may want to think about getting rich slowly when you decide to “get rich in real estate today” is that many people who get rich quickly, get poor quickly as well. They usually are buying in a quickly appreciating market and don’t actually know how to invest properly when the market is not appreciating at an insanely high rate. Hence, they lose faster than they gained, and don’t have the knowledge to go back and work in tougher markets. There are still appreciating markets out there, Seattle and Mobile, to name a few, but boy are there only a few. Actually the best thing you can do is know multiple exit strategies in any market environment. In other words, why not get rich quick…and slow? Make fast and sexy cash while you also build for your future. You see, we wholesale/assign properties and then do lease options. These are our 2 most common exit strategies. That way, when I do Simple Appeal Wholesale Home Staging—I can turn and burn my assignment properties in 24 hours for 25%-50% more than anyone else—get rich quick…er! Then we also hold multiple properties with tenant buyers (I do a very specific staging and marketing strategy for this as well) for long term wealth since many of them either decide not to exercise their option or they stay for several years before they do. By using both of these strategies simultaneously, we are able to work successfully no matter what the economy is doing while we get rich quick and slow. In the meantime, regardless of whether you get rich quick or slow—just make sure you do it…and share it. About the Author Karen Schaefer is an Investor, Writer, Speaker and Property Designer. She is the founder of Simple Appeal, Inc., the Premier Nationwide Staging and Design Company as well as APSD, The Association of Property Scene Designers. She is known nationwide as the Expert on selling properties in ½ the time at full market value. And for helping Home Stagers and Entrepreneurs create seven figure businesses. If you would like to learn more about Home Staging, Curb Appeal, Real Estate Marketing and Selling, go to www.APSDmembers.com |
