If you’ve been saving up your cash for a big purchase, you’re not alone. Taking out big loans or trusting the interest rate or banks has become a thing of the past. This is going to be the year of cash. Cash for everything and no credit. We’ve all got bad debts to unload, we’ve all been hamstrung by credit cards. So let’s be smart and buy cash.
Now, when it comes to buying a home that’s easier said than done. But according to reports on homebuying in 2011, 38% of homes purchased were bought with all cash. That’s double the rate in 2006. And keeping in mind that mortgage rates are at record lows.
So what does this all mean for you? You’ve got to keep in mind some important things:
– Find a great bargain and move on it!
– Invest smart and keep a good amount liquid
– Don’t take on more debt when the future is uncertain
These aren’t goals you can achieve overnight or from the safety of your couch. You’re going to need to work hard this year if you want to find the opportunities. My courses are meant for housing markets like these, when the good deals are everywhere but financing is tough and competition is fierce.
I stress to my students and partners time and time again how critical it is to make bold moves when the timing is right. And 2012 has got me and my crew ecstatic. I invite you to get moving too. Join the movement of real estate investors who are going to clean up this place.
If you’ve got a plan, leave a comment and tell the world why you’re going to make 2012 your year.