As you can see I haven’t updated this blog in over a year. Got out of the habit I guess.
The habit we have been in however is buying, fixing, and selling houses. And that has been going on consistently and steadily this year.
2010 had a pretty horrific ending as far as house values. For those of us holding inventory last summer it was a rough time of losing values very quickly.
Fortunately we weathered that downturn and we have been able to consistently buy and sell this year at decent profit margins. It hasn’t been quite as easy as 2009 was due to the tax credit falsely inflating the market. But I like it better how it is personally.
I personally don’t see value in the government getting involved trying to control capital markets. I think they should leave the market to itself and allow capitalism to do its thing, which will benefit everyone the most in the end. But I’ll leave my political/economical viewpoints at that for now. It’s enough to say that I like the current steady and more predictable market that is going on without the huge government incentives muddying the waters.
And how about those interest rates??
I think its crazy for the government to be printing the money they are and controlling the interest rates as they are because its likely going to only lead to bigger issues down the road. But in the meantime, for those of you out there who are having an impossible time earning any interest on your money, call me.
People lending me money are earning 6-12% year over year and it is all backed by deeds of trust on the properties I’m purchasing. I feel badly for anyone earning less than 8% on their money because there are so many good and legitimate opportunities to earn that or more. And I give them to people every week. If some or all of your IRA is not earning at least 8-10% interest all the time, well to be completely frank, you’re missing the boat. Quite a few people I know have self-directed their IRA’s and are earning 10% year over year by loaning it on real estate deals that are protected by a big cushion of equity in the property.
That’s all for now, have a successful day!
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