The Three Biggest Mistakes to Make in Real Estate

[butzloffrost]

you are awesome! keep up what youre doin :D

[HASHEMANDHOFFER]

YES, I SOLD TOO EARLY IN THE 2003...

[MrAlanKendall]

@HASHEMANDHOFFER

I sold 5 rentals in 2002, 2003 and 2004. I knew then what I know now, that is to follow foreclosures, I would be retired. In the next cycle YOU will do much better. I sold the home in 2007 where I was paying $4050 in interest per month and bought back August 2011 and I am now paying $936 fixed for a larger home across the street.

[jonvssocrates]

Isn't Japan 1980 a better comparison? They didn't hit bottom for over 15 years. That would put us at the year 2022 before we hit bottom.

[MrAlanKendall]

@jonvssocrates

I agree with you 100% that the economy has not yet hit bottom. I do expect the economy to have more waves of layoffs in the 2010's (and come out sometime after 2020) because when housing takes off and the Governement raises rates to slow down the future housing boom, higher rates will bankrupt a lot of businesses, especially Airlines, Auto Manufactures and Retail that owe 30 to 50 times the value of their assets. Historically higher rates = more layoffs.