How To Make Much Money From Real Estate During Recession
Recession is a time of desperation. It's also a period of opportunities. The most common source for real estate profit is the appreciation - the increase in the value - of the property in question. During recession, appreciation in value of houses tends to be very slow or completely on pause. While in desperate situations, the value of houses, tends to go down. Real estate investing also requires you to be prepared to jump on a house when needed with a pre-approved mortgage and dedicated home inspector. Otherwise, you may miss your opportunity. Look for sellers who are desperately looking to sell by locating empty houses or houses with frequently-reduced offer prices. This situation gives you the upper hand in negotiations. When buying homes in a recession, have a lawyer do a title search on the property to make sure that they are not any liens on the title. If you don't, you may buy the property only to find out that you now owe money to a contractor or the previous homeowner...