Wouldn’t you love to buy fresh strawberries at only 5 cents a quart? Who wouldn’t? But of course you can’t. In fact, you couldn’t even buy them at that price during World War II, when 5 cents a quart was the official price controlled by the government. And of course, that is the point, and is why Nobel Prize economist, Milton Friedman, liked to use this example to show why free market pricing is better than government control. He would observe that it is far better for something to be expensive and obtainable, than for it to be cheap and unavailable.
Unfortunately, Friedman’s analogy about strawberries during World War II, bears an uncanny resemblance to residential mortgage financing in 2011. Especially for investors who want loans. Interest rates are near a 50 year low, but it is extremely difficult to get a loan. Buyers who are wanting to take advantage of today’s low prices, but who can’t get loan, would be well advised to follow the wisdom of William Shakespeare, who said, “Tis better to light a candle than to curse the darkness”. Complaining about today’s crazy underwriting standards that make it extremely difficult to get a loan, won’t allow you to buy any property. But learning Creative Real Estate will allow you to buy lots of property!
To prove this point, I would like to share a Real Success Story with you. This is from a blog post on BiggerPockets.com by Kevin Kaczmarek. (By the way, if you don’t subscribe to BiggerPockets, you are missing out on valuable information). Now back to the Real Succes Story. Kevin is apparently one of those lucky investors who has the cash to buy bargain priced properties. However, instead of making an attractive all cash investment, he used two of the Pillars of Creative Real Estate to get an even better deal, with very little money down, and bought the properties using an Assumption coupled with Seller Financing. Read Kevin’s Real Success story in his own words.
Kevin’s success can be duplicated by anyone who learns Creative Real Estate and is willing to spend the time searching for good properties being offered for sale by motivated Sellers. If you are not familiar with Creative Real Estate, you can get started learning by following our recommended guidelines on the Get Started section of our website.
I would like to invite you to share your success stories with our readers. Send your success stories to me at kgain4cash@msn.com .