"Can’t you understand what’s happening here?
Don’t you see what’s happening?
Potter isn’t selling. Potter’s buying!
And why? Because we’re panicky and he’s not.
That’s why. He’s picking up some bargains."
— George Bailey from "It’s A Wonderful Life"
Dear Friend,
Have you been following the news regarding the bankruptcy of Lehman Brothers, the stock market dive and lenders Fannie and Freddie being taken over by the government? These are classic signs of the bottoming out of a market correction.
Right now, we don't have a real-estate problem. We have a banking problem, but that’s working itself out. Home sale prices have mostly stabilized across the country. Although there’s not yet a full complement of mortgage products to satisfy all the buyers in the market, that will change soon. For thousands of years, lending money has been one of the most-profitable businesses in the world. Banks make money by lending; not by deposits. So don’t worry: They will figure out ways to package loans and get cash into the hands of consumers.
Don't get caught in the "cudda, shudda, wudda." Invest in a home today. As money maker Warren Buffet says, "If you are going to buy a farm, buy it during a drought."
You can buy houses for as little as $5,000, fix them up and rent them or hold on to them for a year or two and perhaps double your money. Cast your rod and try and reel in a few bargain basements. If you don't have enough, throw in with a few friends. Share the wealth.
This market is bottoming out as you read this. Don't wait only to pay more tomorrow. Call me today. I will find you the deal of the century.
Right now there are 312 two-family homes in Cleveland listed at prices between $1,000 and $15,000. Sure, most need work ─ some a lot of it. But if you put $20,000 into one, you could have a $1,400-a-month new income source. Within two years, you’ll have earned back all of your money and have a property worth possibly $50,000 or more NET!
Remember: People have to live some place. Yes, it’s hard for some folks to buy homes now. But those are the very folks who could be supplying your secondary income for the nest few years!
Follow Mr. Potter and Be A Buyer. Call me today to get the ball rolling on your personal sequel to "It’s a Wonderful Life."
Dennis J. Rath
Professional Realtor
ERA Rath Realtors
(440)289-7284
p.s. Don’t listen to the media. They have successfully predicted 12 of the past 2 recessions!