Friday, January 23, 2009

End of the Real Estate Bootcamp

Hi Everyone,
Jeff and I are back from RoopDoran's Real Estate Bootcamp in Florida. What a week! We saw a lot great investors. We spent the week discussing how the old rules are gone. Flipping is almost entirely dead. We cannot rely on a retail buyer. We are now buying and holding for two to five years. While there is a lot of bad news to think about; we are focusing on the opportunity to help our communties by buying properties that are distressed and repairing them and reselling them with Owner Finaincing or Rent to Own to people who do not have the greatest credit and can't qualify for a loan.

We had a night when we got together with 10 investors from across the country and talked about our experiences and how we leverage our knowledge. That was a great session. I learned a lot about myself and how I should run my business. That was another theme during the bootcamp. Get your finance house in order. Streamline your operation and watch the bottom line. So the world of real estate has changed again. The fudamentals still work it is the buying and the selling that have to change. We are buying for the long term and we need to buy lower to account for the dropping prices in our market.

We will continue the 30 Day Action Plan because the it represents the fundamentals. We need to focus on the fundamental. Have a plan for each day and following it. Implementing everyday to reach our goals.

See Ya,

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