Today's Real Estate - Modern Day Gold Rush

Today's real estate market is our modern-day Gold Rush. Instead of setting up camp along the banks of the river to stake one's claim to potential ounces of gold yet to be found, investors are lining up to stake their claims on the bounty of foreclosures and short sales being offered by banks. Throw in a few Trust Deed sales and well oiled auctions, and the picture is complete; a real estate Gold Rush of a magnitude we haven't seen in more than a decade.

This real estate Gold Rush, however, isn't without it's flaws. The system that pushes these properties through is quite clogged. Agents and investors can be found pulling their hair out at times due to the frustrations a clogged system can bring. Long escrows and underwriting procedures can delay any hopes for expediency in the process, but the rewards are worth it.

Cash is still king in this kind of market. In my blog post, The Cash Investor vs. The Leveraged Investor...Who Wins?, I write about why I prefer the cash investing strategy over the leveraged strategy. In my opinion, this moment in time proves my point. The system is so backed up that the last thing you want to do is wait for a bank to approve your loan so you can try to buy a discounted property. Cash offers are given PRIORITY in this kind of market, and the leveraged investor just doesn't stand a chance when an offer is on the table. Sellers (often the banks in today's market) want to be sure the deal will close, and cash buyers give them that sense of security they seek to make things happen.

I'm currently working on several more deals in the state of Arizona. I believe there are phenomenal deals to be had that have huge upside potential and when I say upside potential, I mean profits that exceed 100% of the initial investment. It's up to you to participate in this modern day Gold Rush. This is the kind of market that will produce real estate millionaires...will you be one?