Top rated seven Fears of Real Estate Investors These days How Syndication is the Answer to Your Problems
As a serious estate investor, are you suffering from this massive, global economic meltdown, or are you one of the thousands of investors who are actually taking advantage of this "Perfect True Estate Storm" of opportunity?
You see, with unemployment rising, bank foreclosures skyrocketing and prices in most markets falling more than half from their peak, many investors believe that the market is dead. These investors are running around like a chicken without a head, desperately trying to close deals as they struggle to manage their existing portfolios.
If you're one of them, then it's no wonder why most buyers ?read more about the project here these days are packing their bags and leaving the market afraid! After all, in a recent survey polling residential traders, it was discovered that genuine estate buyers these days have many reasons to be scared.
The Best seven Fears of Serious Estate Traders These days
1. Lack of Cash -- Personal incomes are dropping. Unemployment is nearing record highs. Renters in most markets are defaulting. Credit card companies are cutting the amount of cash available even for those who have amazing credit scores and always pay back on time.
2. Lack of Confidence - Many traders are lacking confidence in their ability to get through the next three years of this huge downturn. For example, many buyers are finding that it's taking months to close a property deal. If you're working short sale strategies, because banks are so burdened with offloading inventory, you could wait six months just to receive a BPO (Broker's Price Opinion).
3. Loan Challenges - A friend of mine couldn't even refinance his house for a lower mortgage payment than what he's paying right now because the household income dropped since his wife's death. If he can't refinance his home for a lower payment, what do you think your chances of getting a loan are? What's more, banks have raised down payment requirements on residential and commercial properties to as much as 40%.
4. Can't Find Deals - The majority of housing and condo sales are foreclosures, as homeowners don't want to sell now and lose all the value that they put into the house.
5. Not Enough Buyers - Yes, incentives like the tax credit are beginning to enter the market. Yes, we are starting to see a reduction in new inventories. The key word is "starting." Yet in many markets, buyers are finding a lack of buyers even at bargain prices!
6. Takes Too Much Time - Many old-hat true estate traders are spending their days and nights trying to close deals. Most of their time is spent late at night on their computers, or traveling around the country hopping from one airport to the next, in hopes of getting that six- or seven-figure actual estate deal done, just to be disappointed again and again.