Lately all the money for me has been in appraising REOs. There is nowhere else to make money. I’m not buying anything, because prices haven’t stabilized yet. I’m not flipping, because the flips I’m seeing are no more than churning, they’re breaking even or bringing a check to closing. Ouch! I’m not listing because the only listings are potential short sales with tiny commissions. I don’t list REOs because I make more appraising them.

There is the same amount of stuff out there that there was 5 years ago, the difference is that the banks and Obama own it now, don’t tell them but they’re upside down and don’t know it yet!!! I’m a broker, appraiser, investor and a notary public candidate I’ve bought sold, appraised, flipped, done property management, done 1031s, you name it, I’ve probably done it. I no longer go on Realtor caravans because I can’t keep the ladies away.

Where is the money now other than appraising? It can’t be selling real estate, because 1/10 of the REOs I see were owned by those top producers with gold jackets and high heels. Better yet, where will the money be in the next few years?

I'm new to this business... very interested in seeing where this thread goes...

Huh? Were you in a drunken stupor when you wrote this? Some of the stuff on this investment section sounds like total nonsense.

There's still money out there, it just involves more work and time than it used to!

the money is being hoarded by the banks and investors, which is to be expected in this economy.

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Lmfao!!! Newton hahahaha!!! I agree something is wrong with this thread I know plenty of investors making money flipping. Yes DOM are higher but you have to calculate that in your analysis. It takes creativity and marketing. I know a guy who flips and adds a 2010 Hyundia he buys brand spanking new for $18K and markets it for free with purchase of house, I know another guy who does Giant TV's one would normally not buy, 75"- 82" TV's plus staging packages. A few guys I know are Hard money lenders making 19% returns on flips and 2% on transactional funding. So there is money out there it sounds like you may need to explore.

now we have to stop thinking about the banks and move on to other options. there are soooo many other ways to make money in this industry. Banks are not loaning out to people anymore, it is harder to get a bank loan than ever before. We have to start using new and innovative strategies to start selling properties. I dont know if there is any interest, but i would be happy to start a conversation about what people can do.

If there are real estate agents here only looking to sell traditionally and with a bank loan, that's thing of the past and you will be rubbing those two sticks together for a long time before you see any spark.

Mike

Really? If you think loans are hard to get today you should have tried to get a loan in the early 80s when interest rates were close to 20%. Those days make this market a dream.

The only loans our buyers have been turned down on lately have been were where the buyers weren't upfront with the lender.

Loans are readily available for those with good credit, job history and down payment money. This is how it should be and I hope it stays this way. This is the message you need to start conveying.

If we keep repeating this negative message the public will never get their confidence back and that is really what is missing in this economy. If you look past the news reports you will see that the vast majority of Americans have jobs, have good credit, money in the bank and equity in their homes. What they don't have is confidence.

hogwash.

true, consumers are lacking confidence, but there are very compelling underlying reasons for that trepidation.

you mean...the overweight, middle-aged ladies? LOL

Seriously. The money is out there - you just have to go and find it.

There are some places where the value of property is down. You may buy property and then sell this on a little bit or high margin. but if you are thinking to invest in Dubai property business then it will be useless for you because it can not give you high/attractive return.. So, property business is a good option but at some places, not everywhere.

Yeah, I agree. I do financing for flips out here in California, and there is money to be made for those willing to put in the time and work. There is also money to be made for the gap or transactional funders, making 20-30% return on their money is not out of the question.

Couldn't help but add my nickel when noticed the title while surfing. Yes, there is still plenty of money being made investing and wholesaling. You just need to join the game they are currently playing on the field nearest you.

As for the source of money 81-82 taught us that seller finance and private money was king when the banks went on strike. The banks learned from this period and a lot of the recent laws are aimed directly to hinder the banks real competitors out there.

I am not going to put my money in a bank at 1 or 2% when I can put it somewhere safe and get 6 to 12% or more. When they don't have my money in their bank they can't invest it and give me a new yearly calender instead of a decent return. And last year I didn't even get a calender but the CEO got a bonus and a raise.