Things the Current Real Estate Market has Taught Me

Haven't you just been waiting for this post? Chances are if you are invested in real estate in any way, or are even just a Sacramento home owner, you have learned a few things about the real estate market. Here are a few I have learned. Enjoy!

1. Opportunities are always around the corner

There is never a need to be hasty. Yes, I DO mean that. But maybe I need to qualify that with the statement "...when you have educated yourself on the market." I have had clients who made offer after offer on short sales without them owning a home and then lost interest in the process. For them, the opportunities are still there, but they refuse to see them. So the trick is really in your vision. Get that right and you will see what I mean.

2. When the you-know-what hits the fan, EVERYONE (who hasn't done anything)thinks they're smart.

So-called "experts" come out of the woodwork when things look bad in retrospect. Hindvision is always twenty-twenty. Who cares? Ummm, I guess it makes good news. But it's your money on the line. Listen to your gut. Get some education. Look at historical data. If you're wrong, at least you'll know you chose your future. Which is almost impossible to say with the so-called experts. They avoid errors, but they also sidestep successes. If the only thing you can say for your life is that you missed the potholes, that's a sad life, indeed. Remember who these people would be in the old days: the guys that walked around with signs that said "The End is Near!" around their necks!

3. Always bet against the crowd

Okay, so maybe this is an elitist idea but it's the only way to ensure your wealth. Ask any investor what they do and chances are they'll answer with some version of Warren Buffett's idiom of trying to be greedy when others are scared and scared when others are greedy. Think about it.

4. Real estate isn't always the popular investment, but it's a damn good one!

No investment is perfect. But real estate is great because it is so durable. Remember how often you can check your 401(k) and IRA? Change them around? Constantly until you have no idea in the world what you're invested in? Well, you can't do that with real estate. So you pretty much have to sit tight. For maybe a lifetime. But it's worth it. Some of the most stable investors in the world swear by their real estate investments. While it does require work to get the houses rented (if that's what you're into) or researching investment properties out of state, or flipping homes you've bought at distress sales, or orchestrating a 1031 exchange, real estate can be an extremely fulfiling and profitable investment.

Good luck! And keep the faith!

I Told You So!

If you've been a reader of the Sacramento Real Estate Gal for a while, you'll recognize this as old news. However, it's good to know. But remember, Sacramento Real Estate Gal called it first!

If you're looking to escape Sacramento...

...it's snowing in Pollock Pines.

If you can't tell, that's two feet of snow. I would know. I helped shovel it!

Landlord Landmines Review #2

Overachiever that I am, I've decided to squeeze in as much as I could into the shortest month of the year! Besides studying for the real estate broker exam, I'm also working on the final draft of my very short (but very helpful) book called Landlord Landmines. Here is another review from a landlord for you.

I like it. It contains a lot of what to do and not to do. If I was a beginner, I would take your book and put tabs on some of the pages, put it in a three ring binder, then add to it whenever something changed or I discovered a great way to do something - Sort of like mom's old cookbook! I think the book offers a lot of advice to prospective landlords. You do not have to be certified to be a landlord, but you do need to know a lot about a lot. This little book points you in the right direction. - Michael Mast, long-time landlord.

The book is scheduled to be out in Spring 2009 and will be available on Amazon. To get more details, head over to Landlord Landmines.