Invest with your brain, not your wallet

Many of us have been waiting to invest in South Florida once again and now may be the time though you may not yet be ready. Our hearts are broken and our portfolios cry with the direction the market took in late '05 and continued through '06. Too many cooks in the kitchen? Too many Trumps in the market is more like it. We had such an influx of "savy investors" flood the market when there was no way to lose. 100% financing, incredible appreciation, instant millionaires!! Well, we all know what happened I don't need to rehash it, but now it's '08 investors!! Time's have changed and are changing fast!!

There is an influx of inventory as I am sure you are aware, the question you need to ask yourself is, "how many of them are deals?" In my mind a deal is any property that you can acquire that will carry itself over time. There are an unlimited number of sellers out there today that will take far less then their asking price, even less then they may have paid for the home. There are also a number of pre-foreclosures and bank owned properties that you can pick up for "pennies on the dollar" BUT that does not mean they are good deals!!

Many factors come into the equation when deciphering whether a deal is good or bad, do you know what these factors are? Are you aware of the necessary monetary needs required to make a good deal good and what can quickly make an O.K deal bad? Let me give you a few hints and tips:

1. PAYING LESS THEN THE HOMEOWNER PAID DOES NOT EQUAL A GOOD DEAL
2. BUYING A HOME PRE-FORECLOSURE DOES NOT MEAN YOU GOT A GOOD DEAL
3. BUYING FOR 20% LESS THEN THE LAST SALE DOES NOT EQUATE TO A GOOD DEAL

Are you ready to make money in this market? I'm not talking about quick money, I don't mean cash in hand. I am referring to building your portfolio, BUILDING wealth, not acquiring a few hundred thousand cash when you owe double that, but actually building your nest egg, providing for your future.......

AND HAVING SOMEONE ELSE PAY FOR IT!!!

Contact me today if you want to start investing in real estate the smart way.

Rick Rapp
Real Estate Investment Specialist
rick@rickrapp.com