Cash Is King

I've said it before, and I'll say it again: here and now more than ever reasonable real estate is always a good investment! And if you have cash to invest right now, so much the better!

"Some are calling this the best market for investors since real estate tanked in the early 1980s. Investors, alone and in groups, are negotiating volume deals as they purchase whole subdivisions and bundles of 10 to 50 defaulted loans for pennies on the dollar.

'What we're seeing today dwarfs [the 1980s] by five or 10 times,' says Bob Leonetti, president of SMI Funding, an Austin, Texas, company that originates and acquires private and conventional mortgages. 'There are huge opportunities for investors.'

'People who have cash positions now are going to do very well,' says Central Florida real estate practitioner Mike Norvell of Developers Capital Realty in Leesburg, Fla. 'It's just crazy the prices you can buy for right now for cash.'"

For the full Realtor Magazine / Investor's Business Daily article: http://www.realtor.org/RMODaily.nsf/pages/News2008071801?OpenDocument