Stop the Crying!

August 11, 2007

I am hearing a lot of crying lately from investors who can’t get loans approved.  No more subprime for buyers, no more no-docs for investors, banks are making it tough again.

STOP CRYING!  In the early 90’s when I got into real estate, we borrowed at 9.5% with 3 points, full doc, 20% down.  No stated income, no “liar loans”, no B.S.  We still made money.  We wrapped loans at 12% interest.  We borrowed hard money at 15% or more and we still made money.  The market was weak, and we still made money.

Dry off those tears and face facts: there’s always an opportunity in every market! Sometimes the market just makes it harder for something – rentals, loans, buying, selling, there’s never a perfect combination of “easy street” for all the pieces.  Stop whining and start hustling! 

Somebody is making money in EVERY market… will it be you? 

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William Bronchick, ESQ.

Nationally-Known Attorney, Author, and Speaker

Attorney William ("Bill") Bronchick, the host of Legalwiz.com, has authored six best-selling books and is sought nationwide for his 30+ years of real estate and legal knowledge. He has been interviewed by numerous media outlets, such as CNBC, TIME Magazine, USA Today, Investor Business Daily, Forbes, and the LA Times, to name a few. William Bronchick is the co-founder and past President of the Colorado Association of Real Estate Investors and the President of the Colorado Landlords Association. Click on the "About" link above for more information on William Bronchick.

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