Monday, January 26, 2009

Hey where's Day 21

Hi All,
There is nothing wrong with your browser. I missed Day 21. Fortunately it was a day of rest and playing with the family. So I skipped the day. It would be similar to Day 14 if you want to read it.

I have been spending the weekend reviewing my business and its finances. We have purchased a lot of properties and the tendency is to get lazy with the finances of the property and the business. The Real Estate Bootcamp has really got me thinking about what we spend and where. As we continue to buy property we want to keep our cash flow in mind. In the past we have purchase property that had a small negative flow because property was appreciating. Well I do not know where you are, but in California I am still waiting for the bottom of the median price to appear. We have dropped 35 - 50% in 12 months and more to come in 2009. So now is the time to buy for the long term. We are holding our properties and looking to extend our owner financing as long as we can. Private Money is even more critical as banks are making it harder and harder for buyers to qualify. Our ext strategy is Rent to Own and Owner Financing and I can only do that with seller financing and private money. So keep your toolkit update and use all the tools in it.

Well I am getting back to work buying and financing properties. Let me know if you have any questions or comments.

See Ya,

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