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Archives for September 2011

National Economic Outlook (September 2011)

September 12, 2011 by Marco Santarelli

Read the newspapers and we're at the brink: Global Gloom, Deepening Pessimism, Markets Drop Sharply. Is another Great Depression just around the corner? Is the US slumping to a decade of stagnation a la Japan? Is China now eating the lunch we thought we had bought cheap? Is our financial system just a Vegas vacation, making the house rich but producing no growth?

The answer is no, even though China is nibbling at that burrito and bankers are at the slots. The hero coming to the rescue of the US economy is that trusty favorite, the US Consumer. It's a Consumer with flaws, like any modern hero, with a tendency to binge, and again wielding the weapon that often leads to trouble: the Credit Card.

After 28 straight months of pulling back on the reins, consumers have finally found a level of debt that feels good enough to allow more spending to flow. During those 28 months, the level of consumer debt per person [let's leave mortgages out of this] fell 13 percent, from $8,600 to $7,500. During the last recession with a real estate crash, 20 years ago, consumer debt dropped 14 percent. Sure, many things are different now, but some things aren't.

[Read more…]

Filed Under: Economy, Housing Market Tagged With: Economy, Housing Market, Real Estate Economics, Real Estate Market, US economy

Build Your Real Estate Dream Team

September 2, 2011 by Marco Santarelli

Many entrepreneurs believe that, if you want something done right, do it yourself.  Personally, I believe that is the rationalization of control freaks unwilling to delegate.

In reality, your dream team will help you reach your financial goals faster than you ever can alone.

Sure, you can find motivated sellers and build a great buyer's list on your own, but other tasks require the expertise of others.

Some of the members of your team should include:

  • real estate agents, who can bring you sellers
  • home inspectors, who can spot things you might never notice
  • rehab crews, who can do work in much less time than you could,assuming you want to pick up a hammer
  • [Read more…]

Filed Under: Property Management, Real Estate Investing Tagged With: Dream Team, Real Estate Investing

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