“We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.” – Warren Buffet

We have all heard that quote before, and think we understand it.  But acting on it is an entirely different thing.

I have over the past several months been working with a number of real estate investors picking up just terrific deals on Atlanta real estate.  While the news anchors and commentators generally wring their hands wondering which wave will hit next to push real estate values down further, some sharp investors are buying Atlanta area real estate.

And, they make money as they buy, because they buy right.  And that is the key.  Rents, though down by all accounts, still are enough to cover the note, management fees and to set aside sufficient reserves for repairs and vacancies, right from the start.  And the cash flow, tax benefits and future appreciation are there for the taking for these savvy investors.

Recently I was asked to participate on a podcast, which you can hear right HERE, with a nationally recognized expert on real estate investing, Jason Hartman.

Enjoy the podcast, and if you are interested in picking up an investment property or two, just let me know.  I work with some of the pros in Atlanta who make it turn-key and easy.

This is a video that I shot with my friend, Randy Watson, who is one of the leading Realtors by sale in Georgia. Since Randy has sold over 120 foreclosed homes for banks so far this year, and I have financed many foreclosures for investors and for owner occupants, I thought you might enjoy this brief sit with Randy and I to highlight a few of the pitfalls to avoid and advantages to enjoy when buying a foreclosure.

By the way, one clarification in this video that has been asked. Real Estate Investors should plan to put 15-20% down on an investment property today. If you are looking at buying a home for your primary residence, then financing is very attractive with 0%, or 3%, or 5% down payment.

To your success, should you decide to wade into the land of buying a foreclosure!

A quote from Warren Buffet has been flying around the internet of late, and for good reason as it is right for the times, ”Be fearful when everyone is greedy and greedy when everyone is fearful.”

Well, I would submit that there has not been a time in our lifetimes when the general populus has been more fearful.  Uncertainty surrounds us, in areas which neither you nor I can control.  And uncertainty stirs more fear than the known bad event.

For the brave of heart, there is plenty of opportunity that you can control, and you should.

Here are a few:

• Investment property:  If you have ever thought of jumping into buying rental real estate, now is the time.  A perfect storm is brewing.  Interest rates are low, and less people can buy a home than two years ago, so there are more renters on the street looking for a roof over their heads.  And, at least here in metro Atlanta, I have noticed home prices dropping dramitically in the lower priced homes, and in the upper end of the market.  The middle of the market is fairly stable in many areas around Atlanta.
• First Time Home Buyers:  On top of the $7500 tax credit for First Time Home Buyers in place now through June of ‘09, again, home prices in the first time buyer market are low, and rates are great.  Sure, you will most likely need a down payment now, but there are creative ways to come up with that.  See my post on that topic.
• Shoring up your finances for what appears to be a prolonged period of economic downturn:  If you have equity in your home, and have some credit card or other unsecured debt that you just cannot seem to get rid of, now may be the time to do a debt consolidation loan.  Along with that, take a good, hard look at your expenses.  And, cut where necessary.  Financial stress is eating a lot of people alive.  Don’t be one of them.

I am getting calls these days from folks all around metro Atlanta with two requests; two sides of the same coin, really.

The first is from real estate investors, new or experienced.  Who want to pick up properties they see as excellent deals.  Last week an interesting call happened.  An investor who bought and rented multiple single family homes in the early ’90’s then sold them all for nice profits at the beginning of this decade, called.  He noticed (more…)