Sunday, July 01, 2007

I'll wait until the bottom...

There’s going to be some GREAT opportunities over the next few years to buy properties at tremendous discount, and those who stand up, TAKE ACTION, and BUY NOW will get wealthy. Those who sit on the sidelines, will not.

Some people are thinking they should wait it out until the market hits ROCK BOTTOM before taking action. That may not be the best idea …

Remember when your favorite department store went out of business – what did advertise? 25% off. You found lots of bargains. Then it was 50% off, and you still found a few good bargains, but not as many. Finally, it was my wife’s favorite words, “FINAL CLEARANCE SALE 75% OFF” – then what’s left? Members Only Jackets. You waited too long and you missed out, right?

That’s what’s going on right now. We’re at the point of the first round of clearance sales, and the window of opportunity is closing. By the time the media says a particular market is hot, it’s generally a year too late.

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