W. J. Mencarow ’s ezine predicts a boom in the note business and distressed properties both of which are attractive to folks hoping to work from home.
Here’s his reasoning…
I believe we are on the verge of a terrific profit opportunity in notes and real estate. As everyone knows, interest rates have bottomed for now. Every time interest rates go up as little as a quarter of a point, thousands of potential home buyers can no longer qualify for a loan. Thus, all over the U.S., especially in the areas that have seen dramatic
appreciation in home prices, sales have slowed dramatically.
What once took a few hours to sell with multiple bids over the asking price now takes weeks, even months, to sell for less than the asking price.
Because fewer people can qualify for mortgages, sellers have to get creative to sell properties — such as taking back notes. Those of you who were around in the 1980s know exactly what I am talking about. That’s when millions of private notes were created that fueled profits for note investors and brokers during the 1990s.
The rise in interest rates will also be a bonanza for real estate investment. Once again you will be able to buy properties significantly below asking prices and use seller financing and other profit-enhancing tools.
If you want to participate in the real estate end of this opportunity, get to know the bank REO officers in your town (REO stands for Real Estate Owned. The REO officer
is the person who handles the real estate the banks get in foreclosures). Banks don’t like to own real estate. As they discover it’s not easy to sell real estate in a higher interest environment, they will be interested in talking to anyone who is willing to take that real estate off their books — at a discount, of course.
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