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Wednesday, January 21, 2009

Do We Really Need The Banks Money ?

Hello, good people The Resilient Investor is back once more. As I travel around looking at real estate. I hear all sorts of talk from all walks of people in the street and in private settings, about the plight of real estate as an investment vehicle or comments like :I'm afraid to buy, so I guess I'll just rent. I just look at these people and smile. Oh, be still my check book/ cashiers check. So many properties to buy and not enough blank contracts on hand. Folks, like it or leave it this is the big one. The shift of equity has already been placed and no more nose bleed prices. The hand of make sense prices has been activated, so lets go with the flow and not against it. Now we have so many home owners who are upside down as the phrase goes. They owe more to the bank than what their house is worth . What about them?. I feel very strongly that it's our duty as professional investors to combine our prayers, skills, money and resources together as a master mind group and come up with some creative ideas and financing to help these good people. I have always been one of those old school investors who were against using bank funds to finance my real estate purchases, especially since I wasn't in this business just for the money, so I take the long road.I close on one deal at a time using my company's money and not with the banks. Mr Steady Eddie is still here and not having to beg the bank to reinstate my credit line. SMILE.