Over the past 40 years, I’ve seen so many changes in the real estate investing business. The only constant in this world is change. You’ve got to be prepared and know the history of the market so you don’t repeat what happened before. Yes, the economy is a big factor. But the mentality of investors also plays a huge role. If you track the economy over the past 40 years, you’ll see how many economy changes we’ve had that greatly impacted the real estate industry.
Because there are so many parts that have to be taken into consideration when real estate investing, you can’t just focus on the economy. Today, it takes less dollars to buy real estate. But the dollar isn’t near as valuable as it used to be. The longer we’re paying for properties today, the less value we’ll be keeping.
I don’t know what the future holds, but I do know history. So many people don’t know the consequences of repeating what happened in the past. Foreclosures and short sales were popular in the 90’s, then “subject to” deals were the way to go. After that, everyone wanted to be an expert at lease options. Today, everyone wants to be a wholesaler.
The best way is focus on numerous ways to buy properties where the value of the dollar won’t matter. I teach these different concepts that worked back in Biblical days and will still work today. If you’d like to learn these methods so you don’t have to worry about the economy or interest rates, visit www.larryharbolt.com/events to sign up for my next Never Step into a Bank Again Bootcamp.