This is an investment that everyone and anyone, it seems, is involved with at one time or another. From Fred Mertz to Donald Trump, and everyone in between, real estate appears to have that all-encompassing allure that seems to attract just about anyone. Even someone who may not own a property is always ready to talk about real estate. Real estate is always a favorite water cooler subject, as well as a hot topic for just about any occasion. If you have never owned a real estate investment, you don't necessarily need to know how to buy, fix, or sell, to talk the talk. In hot markets, as well as weak markets, real estate is always a hot topic.
When the market is hot, the conversation is about how much the market has gone up and how much equity one made, or the property that was sold and the profit that was realized. In a declining or very weak market, there is still much real estate chatter, but the conversation is much different. Instead of boasting about the newfound wealth, most people are lamenting the loss in equity, and the difficulty in trying to sell. In a good market, we boast, in a steady market, we coast, and in a bad market, we roast. When the market is good, many want to brag about their investment and tell how to make the same type of terrific deals. When the market is in the proverbial basement, the once proud investor will look for solace in explaining how that once fantastic deal has now turned into a money losing catastrophe.
There are however, investors who do make money in down markets. In fact, when the market is depressed, that is the time to buy and when fortunes are made. There are too many properties for sale, and not enough investors to buy them. In other words, there are too many Fred Mertzs', and not enough Donald Trumps. Some people seem to be born with "investment how to", and many others just buy when the time is right. In an appreciating market just about anybody can make money in real estate. There would probably be many more investors buying now if money was available. Once the economy starts to improve, and mortgages are available, the investors will come out of the woodwork.
Everyone who is reading this probably realizes that. Real estate will come back, but not right away. Even when it comes back slowly, in general, it will still be a good investment. Property investment will still show you how to deal with people, make decisions, and sound real impressive around the water cooler or at any social gathering. As investments go, real estate is the one investment that will always hold a special interest to just about everybody. It is something we all need, whether we are renting or owning. Either way, enjoy the conversation, and anticipate a bright road ahead, way ahead.