Auctions & Buying & Real Estate Auctions 20 Apr 2009 10:48 am
Proof in the Pudding!
This past weekend I had the pleasure of having a Saturday off, so I chose to use this opportunity to, what else, GO TO AN AUCTION! Yes, you might say I enjoy auctions so much, that even if I have a weekend off, I am usually looking for a way to go to one.
This weekend I attended an auction conducted by my Grandfather in the Bethpage area of Sumner County, TN. He had 24 acres in 16 tracts. 14 of them were building lots and the remaining two were 5+ acres. My Grandfather has been saying for quite some time that He has NEVER seen a better time to invest in Real Estate. And this weekend he offered the proof.
In 2007, he had an auction just around the corner from this place. Similar set up in the fact he was offering building lots that were similar in size (approx 1 acre.) At that time these lots sold for $16,000 and houses sprouted up. This year, these lots within rock throwing distance were bringing 8-1o thousand and there was no difference in the two. All that had changed was the opportunity to make money.
The point being, buy now, hold tight(a year or two), and in a few years reap the rewards! This is exactly what he was saying, and seeing as he has nearly 50 years in the business and a heritage in Real Estate with his dad dating back to 1910, I would say he is well qualified to give advise on the situation.
So, if you have a little money and are worried about the market, inflation, or your portfolio, NOW is a great time to make that investment in a “piece of dirt!”
Don’t just take my word for it, take that of a man who has lived through this type of market several times and has seen the “proof in the pudding.” And like a recent commercial says by one of the “big three” in Real Estate, there will be A-LOT of folks who kick themselves for not buying in this market.
For tips on how you can take advantage of these deals, give me a call. 615-428-4920.