A letter I wrote to a colleague this morning
Posted By jonsyrose on December 17, 2007
Whatever you do, pay heed and know that it is too early for real estate right now and anyone who enters “undercapitalized” will ultimately be providing someone a little more a more patience and experience such as myself with cannon fodder!!!! Hold out, grow some cash reserves, be patient, foreclosures require 100% cash payments and the good stuff will not come till late 2008 early 2009 when the banks are so squeezed for cash – which i assure you they will be – that they have to clear some debt off their books! this will include a lot of prime real estate for those capitalized and good eye to take advantage of!
There will always be lots of skeptics and doubters in life – everyone laughed at me when i started selling my real estate in 05 – they called me stupid, naive and told me i clearly had lost the plot and no longer knew what i was doing, i must have been lucky to have built up what i did!!!! Being a visionary means being one step to five steps ahead of the market at all times! Educated guesses when right will make you very rich but even if you guess wrong so long as you bought right you get out with a profit you still have the last laugh!
The next boom and growth opportunity will not be in real estate it will be in three main areas, Retirement planning/ wealth transfer, renewable energy to combat the rising costs and diminishing supplies of fossil fuels and Brains.
After the recent market upheaval people are going to be so desperate to insure against running out of money (annuities) it will be crazy.
Copyright Jonathan Rose 2007 – Creative Commons License
This work is licensed under a
Creative Commons Attribution-Share Alike 3.0 United States License.
_uacct = “UA-837315-3″;
urchinTracker();
Comments
Leave a Reply
You must be logged in to post a comment.