Category: Real Estate

Donald Trump was asked on CNBC last week what are the keys to success.  He said, “always do what you love and NEVER quit.” If you have gotten caught up in the real-estate flipping game – there may be hope, but you will need to change your strategy.

Source: MarketWatch

But that was in the summer of 2004, when the red-hot condo market was peaking and money could be made by investing in condos expected to quickly appreciate. Units were often on the market for resale as soon as they were completed. It’s a much riskier proposition to flip a condo in some of today’s cooling markets.

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Each and every day athletes and entertainers receive multi-million dollar contracts.  What is really funny is when they say that they needed to renegotiate their contract in order to feed their family.  I honestly believe in most cases they are telling the truth.  Just because they appear to be rich doesn’t mean that they are not living paycheck to paycheck. 

Shaq is a great example of the difference between rich and wealthy.  Wealthy people own stuff that put money in your pockets.

 

Source: Bloomberg

Sept. 19 (Bloomberg) — Basketball star Shaquille O’Neal started a real estate company to invest in projects in New Jersey, Florida, Louisiana and California, including a residential, hotel and retail complex in Miami, where he plays for the Heat.

O’Neal, 34, has amassed a portfolio of residential and commercial real estate valued at more than $50 million during his 14-year career with the National Basketball Association. His new company, known as the O’Neal Group, will be based in Miami, Christopher Handy, the executive vice president, said today.

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Source: Ticker Sense

The Chicago Merc now trades futures on the real estate markets in ten major cities based on the S&P/Case-Shiller Home Price Indices.  Based on the futures, we show the expected percent change in single family home prices from June 2006 (the most recent actual data) to the four contract expiration months currently trading (11/06, 2/07, 5/07, and 8/07).  The markets are expecting Las Vegas and San Diego to decline the most by next August, while New York and Denver are expected to decline the least.  The composite future is looking for the entire housing market to decline by 6.44% by next August.

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Crisis equals opportunity.  Keep banking your money.  There will be Real Estate bargains galore in a few years.

 

Source: Robert Kiyosaki

Some people say we’re now entering a bad real estate market. I disagree. I think we’re entering a great market. A bad one is when amateur investors become real estate experts and they bid up prices. They make housing expensive for homeowners, often adding little to no value to the property. They simply muddy the waters and make a valuable investment, a home, expensive.

…… Yet it’s the amateurs who come late to the party — and who eventually donate their money back to the professionals. What I’m saying is: Now is the time to turn pro. Now is not the time to be an amateur. It’s the amateurs who jump in when the market is hot. It’s the professional who comes in when it’s cooling down.

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