Don't waste a good recession!
Posted by Super Admin on Wednesday, October 28th, 2009 at 5:10pm.Recessions make millionaires. Will you be one of them?
Most people don't realize that recessions have a way of creating many new millionaires. Many investors simply bury their heads in the sand or go into damage control mode the moment they realize that the economy is declining. Savvy forward thinkers use a recession to their advantage by taking more calculated risks. Sure, all investors calculate their risks during times of economic stability in some way. In many ways a recession can make even the most calculated of risks seem far more "risky" than before.
How does one do this? The concept is relatively simple but having the courage or ability to act on opportunity is entirely different.
- The concept: what can I buy for a great price today and sell at a higher price tomorrow. Simple, right?
- The ability: MONEY....Cash is king. By the way, a well structured loan with a great interest rate counts in my book. In fact, one could actually use today's interest rates and real estate prices to spread your $$ further. I know, I know. Financial leverage is largely responsible for the mess we are in. But not everyone overleverages themselves. Keep it within a sustainable range.
It seems that the stock market and real estate seem to be the two primary focal points of the media approaching and during a recession. Given that my area of expertise is in resort real estate I'll use our local market opportunities as an example. I like to say "imagine being able to buy in Aspen 20 years ago." That's exactly what the Deer Valley & Park City real estate market has to offer today. You just need to have a little foresight and of course the ability. Many of my "able" clients are very very...very patient. They are likely successful because of this....they have also likely missed out on some opportunities by not acting as well. Knowing when to act is a very large part of it.
A highly valued client of mine told me as we began to enter this economic crisis told me "tough times make tough people". I've used this daily to stay motivated and to position my business to take advantage of the coming rebound(thanks CKN!).
What does this mean to YOU? This means that my partner and I have spent considerable time and money to be able to quickly and efficiently find the no-brainer values that those who wish to ACT desire. Time is money. Find it, feel good about it, close it.....quickly. This is how the best deals are made. What are you waiting for? 435.647.3257 or Rich@GoDeerValley.com
Rich Meeboer, Jr. P.C. - Rich@GoDeerValley.com
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