The real estate market just got more interesting. The stock market is in for sure turmoil Monday through Friday of next week. What am I talking about? Well, buckle your seat belts, it’s about to get bumpy.
On Friday IndyMac Bank, for all practical purposes, shut down by the Feds. It will re-emerge Fed run. But, boy… Keep in mind that IndyMac Bank was at one point in time the second or third largest writer of mortgages in the country. And not too long ago!
What will this mean to you and me? Well one thing it well definitely mean is that the stock market is in for a wild ride on anything financial on Monday. I’m going to refuse to check out what few stocks I have. I just really don’t want to know. Now, before you accuse me of burying my head in the sand and/or having a Pollyanna attitude you need to know that I am 43 years old. There is plenty of time for my blue chip stocks to bounce back. Besides, I don’t have that much in the market anyway. Mostly in houses.
As for your and my real estate investment properties I’m gonna urge you to read Friday’s post about Buy & Hold Real Estate Investing and keep the big picture clearly in focus. If you bought on proper economic fundamentals for your rental properties you should be more than able to hunker down and survive through this next 6 months to two years.
And if you still have cash on hand beyond your reserves I really want to urge you to make a plan to buy and possibly buy again in this next 6 months. People are feeling panicky. Some are worried values will continue to slide. And they may very well. Though I suspect you can buy smart enough to cover any possible dips and really set yourself up nicely for the long haul.
Of course much of this depends on your age, earnings, savings and overall investment plan. So make sure you talk to your professional. If you don’t have one, contact me today so we can find out what is best for you.
BBQ Capital | Kansas City Real Estate Investing 
Wow, I had no idea about indy mac. It doesn’t look good.
Chris,
Thanks for the phone call today, I appreciate your perspective on my investment plans.
As for this post. BRAVO! I applaud your efforts to urge your investors not to panic and not to buy into all the doom and gloom that get’s spouted daily by the “Financial Talking Heads.” Can you tell that I’m a bit irritated with them?
Yes, things are not as great as it was several months ago in both the stock and real estate markets. But don’t let the FTH’s scare you out. I can’t think of any worse time to sell your investments than NOW! Yet these self-proclaimed expert personalities in the media are scaring people into doing just that. Imagine the wealth destruction they are finalizing.
Last month I had a conversation along these lines with my father. He was considering cashing out of the stock market. Fortunately for him (and me 😉 ) I was able to convince him otherwise. He’s now looking for new buying opportunities that Mr. Market has put on sale.
Stocks or real estate…both are great in my book and both are prime for the pickings if you ask me.
I love being a contrarian. 🙂
-Jeff
I’m Minding My Own Business, are you minding yours?