Is Anyone Else Out There Working To Take Advantage Of This Current Economic Downturn?
By admin. Filed in chicago multi family real estate |Tags: Advantage, Anyone, Current, Downturn, Economic, Else, Take, There, This, Working
My husband and I are sticking to a hard budget right now so that we can save extra income. We just got married and bought our first house last year. We are looking to buy more real estate (houses and/or multi-family units) to rent out, since prices are so low. Once prices go back up, rents will follow, and we’ll have some nice extra income from those properties, and once they’re paid off, that will be all the more for us and our retirement.
I’m just wondering what other people are doing to better their financial future… dabbling in real estate? Stocks? Something else? Just curious.
Also, just to make this political, what party are you (if you care to share that info), and what party do you generally think would be more likely to have its members do as my husband and I are doing?
Tuesday, June 30th 2009 at 6:56 pm |
You are definitely on the right track. Real estate is a solid investment if you know when to buy and when to sell. Apparently, you understand this because, in our chaotic financial situation in America today,it is the only investment that I, a real estate broker, feel is a safe investment. I see “investment potential” every day in great properties and it is good to see people looking to the future instead of to
“today”. I have always believed in buying what I understand and buying what I can control. You understand. I wish you all the best in taking advantage of the potential in front of you today.
Tuesday, June 30th 2009 at 7:05 pm |
i’d like to get a multifamily to reduce my costs since i’m getting flushed under again. i was doing great from 1999 to 2005. In 2005, i was laid off. then i lost big time income. so, my savings are to the zilch. been thinking of taking proceeds from selling my house and put it on a foreclosed/short saled multifamily in decent shape (problem is finding them in decent area and decent shape) and get that person to pay my mortgage.
Tuesday, June 30th 2009 at 7:23 pm |
Thanks for the comment and wishes Patsy. Please feel free to e-mail me if you have any properties you would like to work together on or just to get to know one another better. Thanks!
Tuesday, June 30th 2009 at 9:40 pm |
Kudos to you for thinking ahead while you’re young. I’m sure this move will pay off for you and your husband in the future. Once you’re ahead financially, you can keep moving in that direction.
To answer your question, my husband and I are not currently taking advantage of the economic downturn. We have 3 kids, and I work part-time so that we can make ends meet. Not much leftover for anything else. That’s why you’re smart to do it now!
Republican here.
Wednesday, July 1st 2009 at 2:08 am |
My wife and I have been taking advantage of the low stock prices as well as some real estate. We just bought our 3rd house which is a duplex. We live in a college town, so rather than try to rent out the houses we just rent rooms. It works out pretty well with college students. We also just purchased a limousine. I am a Democrat.
Wednesday, July 1st 2009 at 9:07 am |
Ditto what Monster said.
Real estate is cheap now if you have the money to buy it, so that would be a good thing.
I am still working on filling my 10,000 gallon storage tank, so I will have plenty of Gas when the prices sky rocket again.
Conservative values here!
Wednesday, July 1st 2009 at 12:18 pm |
Did you know that the economic down turn is due to that the wealth is in the possession of the wealthy and therefor they are the only ones able to take advantage of it…?
You must have not learn anything about economics in college…
Wednesday, July 1st 2009 at 6:21 pm |
i am buying many stocks,,and i bet they all go up really good.this is about the greatest opurtune ever…..inhalers it might be too late but id still do it,the makers off inhalers win huge profits if you get it now but only makers no generic
Thursday, July 2nd 2009 at 12:20 am |
Yeah, I wished I had the money cause things are really cheap at the moment.
I can’t afford anymore loans, I have to pay off what I have or I would be buying a new house and car.
But if you can take advantage of it.
Thursday, July 2nd 2009 at 2:37 am |
I work to take advantage of the economy ALL the time, not just when there is a “downturn”.
I’m an independent American, not one of the lemmings that puts party before country.
Thursday, July 2nd 2009 at 8:08 am |
I made millions shorting subprime lender stocks and otherwise buying put options and rolling them over month after month on the subprime and Alt-A lender stocks.
I’m a Republican.
Thursday, July 2nd 2009 at 1:54 pm |
of course they are the people that caused it and you but be careful you are jumping in a little early it will get much worse before the transfer of wealth is done
Thursday, July 2nd 2009 at 6:20 pm |
I was going to say Chavez, but then remembered his oil revenues are dropping like the proverbial rock.
He just cut off Joseph Kennedy III’s Communist charity. No more oil for the American Left.
Thursday, July 2nd 2009 at 7:04 pm |
Investing in Guns
Thursday, July 2nd 2009 at 11:24 pm |
These times are the best time to invest in stocks, without a doubt. You know the old saying “buy low, sell high.” Bear markets are the best time for bargains. The only question is what to buy. There are probably several well-known mid-large companies out there that may not survive the downturn. There are also no doubt some bargained-priced small-cap companies out there now that during the next bull market (some time down the road) will be the next Microsoft or WalMart. What are they? No one can say for sure (although Warren Buffett may have an inkling!).
Politically, I’m on the independent/moderate side.
Good luck to you and your husband!