A Second Chance For A Failed Real Estate Investor?
Does the new housing boom create a miracle second chance for real estate investors that have flopped in the past? Is flipping houses the best chance for the kings of realty to get back on top and regain the reins to their financial futures or is it just too late?
There is No Denying the New Housing Boom
Even the most pessimistic analysts are having a hard time spinning anything negative about the U.S. housing market right now.
Check out the facts &and figures according to the National Association of Realtors (NAR) latest press release on June 20th:
· Existing home sales rose 4.2% in the 12 months to May 2013
· Median existing home sales price jumps 15.4% year-over-year to $208,000
· Buyer traffic has risen 29% in the last year
· Median days on market dropped to just 41 in May 2013
On June 2th Bloomberg ran coverage of the new Mortgage Credit Availability Index from the Mortgage Bankers Association showing U.S. home loan lenders loosening up access to mortgage loans which will only further fuel home sales.
It isn’t just existing home sales that are performing well either. The real signal that the new housing boom is officially opening its gates is new home builders like KB Homes announcing a 74% increase in revenues as of the 2nd quarter 2013.
Based on historical real estate cycles we are now entering a new boom era that will last another 10 to 15 years, during which home values will double.
10,000 Donald Trumps Looking to Rebuild an Empire
So is this new era of plenty in the U.S. residential real estate market the signal that real estate investors and investor groups should jump back into the game and flip more houses once again?
There are many, many real estate investors that completely flopped when the bubble burst. Many lost businesses, homes, expensive sports cars and even saw their families fall apart. So why did it really come to this for so many individuals and is this really their chance for a do-over?
The single biggest cause of failure among the real estate investment crowd when the bubble burst was being overleveraged. Many found themselves in negative cash flow and equity situations. Some are still recovering, others have cleared the debt and are seeing their credit scores gradually rising again.
For most the failure experienced wasn’t anything to do with personal ability, talent or a fault in the housing market. Too many just rushed in without investing in their real estate education or kept gambling on the market even though they knew an end to the run was coming.
A large percentage of this group was turned off to real estate investment and never went back, but now are green with envy as they see others banking big on distressed properties and rapidly rising values. One thing that they all recognize is that there are few if any other alternatives for regaining wealth, status and their previous lifestyles as flipping houses or building portfolios of rentals. And no one can deny if there was ever a good time to get in, this is it.
So if you are a member of this group can you bounce back and hit the big time again by investing in real estate a second time, and how can you prevent failing twice?
It’s entirely possible. Just look at Donald Trump. According to his bio on Wikipedia he once sank to a low of being $900 million in personal debt and some $3.5 billion in business debt. He certainly made a significant comeback and now boasts new developments all over the globe in addition to his stint on reality TV with the ‘Apprentice’.
Few of those reading this are anywhere near that deep in debt. So if he could do it, you can too. So how can you get back on you’re a game fast?
The Inside Scoop on the Next Real Estate Hotspot
The one thing that real estate investors who have ridden the recent housing roller coaster certainly respect is knowledge. So how can investors tap into the best data for identifying investment opportunities and targeting their marketing for maximum effective and ROI?
As predicted ‘Big Data’ has become big business in 2013. The government has recently jumped into the game amidst a variety of scandals. Bloomberg has been criticized in the New York Times for journalists’ tactics and on revelation the conglomerate owns more than 30% of the $25 billion plus financial data services market. Now real estate related firms are bulking up on acquisitions too with news of CoreLogic acquiring DataQuick for $661 million and Fidelity buying back Lender Processing Services for $2.9 billion.
Some of these firms provide valuable information to the real estate investment community, but can also drip out misinformation via faulty calculations, stale figures that do not reflect current trends or data designed to move money to their clients benefit.
So while the news can be a good barometer to keep an eye on, savvier investors will zoom in on more local data using sources like RealEstate.com’s Local Info and Market Analysis tools, as well as conducting their own market research via social media and word of mouth.
When it comes real estate marketing investors have never before been so spoilt with in depth insights for targeting and maximizing ROI on cultivating buyer and seller leads. Information giants like Verizon and Google now open the door to masses of information on consumers for enhancing marketing performance, while other companies cut to the chase and provide direct access to exclusive real estate leads.
Tips for Building Momentum Fast
While many would no doubt love to jump into investing in real estate again most can’t afford to go months without a paycheck today. So how can you get back into the game and see results fast?
5 steps to investing successfully the second time around:
1. Recognize the mistakes of the past (and put them behind you)
2. Get wired into blogs like this and other sources of good data and emerging trends
3. Start networking to build contacts and lead sources
4. Set up effective, proven systems that help avoid pitfalls and improve time management
5. Make the leap of faith and go for it
A new entrepreneur publication featured on Yahoo Finance and Reuters, G-Code Magazine, suggests that some of the best growth hacking moves small business owners and independent real estate entrepreneurs can make include taking the time to understand their customer, then engaging in guest blogging, building affiliate networks, becoming a member of local coworking office spaces and even paid search for immediate results.
Excellence = Rewards
Finally, commit to doing it right this time around; no shady short cuts, keeping eyes on the main objective and doing it for the right reasons. Real estate investment may be the fastest path to a handsome income and great wealth but it comes with so many other benefits too.
Commit to excellence in every area of you new venture and the rewards will come. You will build and hold a substantial legacy for your loved ones, help to improve the economy and have a direct positive impact on revitalizing communities and bringing new hope to others too.
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