In the past, Wall Street bought mortgage pools and sliced and diced them into securities that were bought, sold and traded by many large institutions, pension funds and even the federal reserves of some countries.. Is it any wonder that the whole thing finally collapsed in 2007 and brought about a world side recession worse than anything we have seen since the 30’s?
I fully believe in education. I have a library chock full of courses AND I LISTENED IN EVERY ONE. I call my car my university on wheels. At one point i went to lots of seminars and still continue to go. BUT, in between the seminars, I put what I learned into action. At some point you have to move forward. So what if you make a mistake. If you are only making offers and have no money at risk, what can you lose? Do you care if someone curses you out because you reneg? “Sticks and stones may break my bones…..etc.”
If you do if right, you have no money at risk and no legal obligations. Of course, the contracts that i use and give my students are iron clad in my favor. I can back out the morning of the closing and no one can sue me. Did you know that the C.A.R. contract has no prohibition against assignment? So if you are not dealing with a bank, you can flip that baby and the realtor can scream bloody murder.
Mistakes can cost you in real estate investing.. Learn from mine,
I have made several big mistakes along the way of my real estate career. I am sharing these with you folks so you don’t do them. As I always say, “There are 2 types of people in the world; those who want to learn by their own mistakes and those who want to learn from other people’s mistakes”. The second type will be much more successful.
Insurance companies dirty little secret.
You should think twice about filing a claim for damage to your properties. Even though you have been faithfully paying your premiums for years without a claim, one big claim can change everything
Home Sales in California were down 12% since last July
and follows steady declines since last Oct. The hope was that the spring and summer would see a pickup in demand as more homes came on the market.