High End Mansions & Luxury Homes Prices Tanking
Forward by Steve Dancer – Builder / Investor / Mentor
OPPORTUNITY! Here we go again! I was a young homebuilder and house flipper in the 1980’s when the last major oil bust hit. Yes there has been several other downturns but nothing like the 1980’s and now. The 1980’s bust was much more signficant then in that Houston was so dependent upon the oil biz and mortgage rates rose to an all time high at 15% and higher. Today, standard rates are at about 4%. It goes without saying that if rates were at 1980’s rates today, there would be real estate blood in the streets just like in the 1980’s even with a more diverse job and industrial base that Houston enjoys today.
Home Flippers Get Creative as Competition Heats up & Deal Spreads Get Thinner in Houston & California
Forward by Steve Dancer – Investor
Investing in Houston TX as well as California has truly changed dramaticallyt over the last 5 years! The low hanging fruit like Foreclosures & Short Sales have been diminished and the amount of foreclosures and short sales are far less frequent currently than 5 years ago!!! Therefore a new strategy for this moving target must prevail. Enter “A Retail Revolution“!
Owning Costs More than Renting
Facts are often known when both sides of the story are told. As Active Real Estate Investors, Builders, Developers & Mentors and Students of the Game now for 40 years, we work diligently to build our biz & enlighten others by exposing the REAL FACTS about being a “Professional Real Estate Investor”! In efforting to do so we often come across information that we find very informative and useful to our business which helps us develop our entry and exist strategies in an ever moving and changing industry.
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