By Alan Langston, Executive Director, AZREIA
When things are high – sell. When things are low – buy. We’ve heard it a trillion times. (Yes, we have to say trillion now. It just seems like a million or a billion isn’t that much anymore.) Real estate prices are very low right now and many AZREIA members are buying all the properties they can, with good reason, too. The two most popular strategies, rehabbing and buy & hold, are both producing excellent profits.
The “feel good” meter is at an all time high, also. What do I mean? Many people are drawn to real estate investing not only for the wealth building or income potential, but for the unmistakable fact that they can have a very positive impact on people’s lives. This can and should let a real estate investor “feel good” about what they do and how they do it.
For our members that invest in single family properties, add value to the property through rehabbing, return the property to the market as a home ready for its new occupants it is easy to feel good. But it doesn’t stop there.
You, the housing provider, will fill many roles now and in the future including finding creative ways to return many people to the dream of homeownership. These creative ways might be seller financing or lease options, to name two. As you can see, you have many ways to continue to feel good in the future. But, it didn’t start there.
Many of you are on the front lines of working with homeowners that are in distress. You take great pride in your ability to help these homeowners and their families. In many cases you are the only ones that can fully explain to the homeowner all of their options, so they can make an informed decision on of the most personal aspects of their lives. You don’t take this responsibility lightly. If you’ve ever helped someone with this type of problem, you know how high the “feel good” meter can go.
There is a quote on the Welcome to AZREIA chart I show at every AZREIA meeting from an author unknown to me that states, “There is no greater achievement than helping someone else succeed.” Every day many of you help other succeed by solving problems in their lives. Smile, you should feel very good about it.