By Mindy Anderson, SAREIA Speaker Relations
Is the market in a slump? Everywhere you go someone has something to say about real estate. We all know real estate will never go away but will it always be profitable? In my world, I would say yes to that! Why? If the market is not hot, then that would be the time to get out there and buy something! If you are buying them right, you can usually handle yourself with more grace if you are caught in a slow moving time, whether it be rental vacancies or a rehab taking a lot longer to sell. I have experienced both and it is not the best feeling to have! I would suggest to investors to always have an emergency fund of some sort to fall back on if need be. Holding costs can be a real problem if you are not prepared financially. I prefer to be a bit conservative. That is just how I handle myself in this business. I may not get to the place I want to be in 2 years but I will get there, no doubt, with my head on straight! I am pleased with acquiring property in the 65% LTV range. For example, we just purchased a long-term rental that has an assessed value of 61,000 and picked it up for $40,000. It needs very little clean-up and it is rent ready for approx. $800/month according to my research for that area. Our payment is approx. $384 PITI. Sounds like a winner to me! And, they ARE out there, if you are doing the things (marketing to sellers, networking, etc
Mindy Anderson, an original member of SAREIA, has been investing in real estate for over 6 years. She was
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