My town...mass layoffs, businesses going under and moving...

My town...mass layoffs, businesses going under and moving... that a feast or famine situation for Realtors/Investors? Our town of 60000 is looseing four big employers. A carpet mill, paper mill, woolen mill, and industrial electronics production plant. should I as a newbie be worried. I mean, if all these people have to relocate for jobs, why would investors want to buy cheap homes, with few renters or buyers around, to hold for possibly many years.


Getting properties cheap

Get those properties cheap. I want to get my properties at a very aggressive price of 50% below FMV, and then reasign those properties at 55-60% fmv. If investors can get those properties cheap enough, they will buy and hold. Even though there is alot of layoffs going on right now, I don't think we'll be seeing your town as a ghost town on the news anytime. People will still be moving into the area as well as out of the area. There are people who may not be able to afford to move out of the area but still need housing. Call up your local real estate agent and ask for comps on certain neighborhoods. Find out when the last sale was and for how much. Do your due diligence, and ask questions, talk with other investors and see what areas they are investing in. If they see you as a competitor, they will not tell you. However, if you pose as a bird dog, and tell them you want to locate properties for them they will tell you what areas they are investing in.

Hope this helps....




Failure Is Not An Option


What state are you in?


"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote

Be careful

Personally I would wait it out in your town. Prices won't drop sharply right away. It may take a year. Buying property without a renter is a bad deal no matter how cheap you get it. Keep an eye on how many jobs will be lost and is there any new jobs coming to town.

The only thing I would consider is wholesaling.

You can always go after towns in your surrounding area.


You've got to find your obstacles and call them out! Unsheath the sword, and do battle with whatever it is that holds you back!

Massive Layoffs

They're everywhere.
You do have a point. In that case, people who are
still around and do other things, or may be now looking
to do other things since the last job isn't available
any more, well perhaps the folks that want to stay will
get a chance to upgrade, move around, trade up, etc.

This is their opportunity, and you will be their hero!


Best Regards,
(Licensed Realtor-Military Vet-9/11Vet)
A self-directed realization for 2014 is to:
Live life as if always on vacation and have all the good health, time, & wealth to enjoy it.
Work, only when and IF desired. Helping others do the same. It Pay$ To Connect!
Always In Gratitude.....

Syndicate content