Today’s podcast is my attempt to help you get prepared for the market changes that are coming. I went to Los Angeles last night to speak about lease options and am driving home from the airport now.
The reason this is coming up now is I had time to talk some of the investors at the Los Angeles event. Things are already changing there. Houses take longer to sell and values aren’t going up.
I’m not saying the California market has collapsed, but it’s definitely in a slump. In the growing town of Bakersfield, 12% of the homeowners are underwater. Foreclosures are beginning to occur.
There’s absolutely no reason to be anxious about this. A downturn can be a profitable time for investors. There are still lots of houses for sale and you can make really low offers when the market’s down.
Lease options are a great strategy to use during a downturn. Sellers want or need to move, but buyers are few. You can sweep in and propose a deal that solves those sellers’ problem.
Brush up on your lease option skills by getting my free book on the subject. It’s great information that is particularly valuable as we head in to this downturn.
Listen and learn:
- Joe visited California this week and it’s clear the real estate market slowdown is starting there.
- Remember the saying, “Your profit is made when you buy.”
- Look on Joe’s Facebook page for info on upcoming live appearances.
- Don’t be afraid of the market downturn because it’s a great time for lease option deals.
Mentioned in this episode:
- Joe’s podcasts: RealEstateInvestingMasteryPodcast
- Joe’s free book: WLOBook.com
- Joe’s Facebook page: Joe McCall (scroll past the egg info)
- Book recommendation: Entreleadership
- Go to iTunes or wherever you access the podcast and leave a review
What are you thinking?
First off, we really love feedback, so please click here to give us a quick review in iTunes! Got any thoughts on this episode? We’d love to hear ’em too. Talk to us in the comments below.
Enjoy this podcast? Share the love!