Some real estate investors say we're at the bottom of the real estate
plunge and now is the time for investments that could pay off big in
the future. In the process, those investors are putting money back into
the economy.
According to excerpts from the story:
Real estate investors are buzzing like bees. Many feel the bottom has been reached, and now is the time to buy.
But getting a bank loan for investment real estate is tough as lending
standards tighten. James Eerdmans, a real estate agent, investor and
mortgage broker, said getting qualified for conventional funding is
difficult and, if you do succeed, you are limited to 10 properties, he
said.
"Once you exceed that, you have to rely on commercial
financing, and the appetite for that is pretty low, especially around
here. "The few who can qualify from a financing perspective have a lot
to choose from."
So real estate investors are trying to woo
stock market investors to shift their funds to their projects. Eerdmans
said people are doing it, buoyed by a real estate market that "is
definitely undervalued." "I'm sure there's probably a lot of people who
are taking their money from their 401(k)s and purchasing a rental
property," he said.
Read the complete story here.
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