Real estate has been and will continue to be one of the best wealth building vehicles. It's in a slump which we all knew was coming, of course. But for the long haul it has and always will perform consistently well.blueguy said:If it were me, I would try to get out from under of those properties as soon as possible and count yourself among the fortunate (possibly few) who have realized that typical real estate is not meant for investing long term.
Of course, my opinion is not of the norm and is usually met with much resistance from the mainstream belief that real estate will make you rich. Yes, in the past, but not now...
That said, the real estate is part of the problem, but it isn't the solution.
I have properties on the market as we speak. i am lightening my load, but the biggest issue is the fact that I have to incubate a new business through a bad economy. That means that I'm doing 50% of the sales i should be doing, which means that I have to cut one of the only costs that I can....LABOR. So I have to do all the work just to get through this sh!tty downturn.
Trust me, if I could snap my fingers and change my life 180 degrees right now i would be tempted. The thing is though, I know that everything is finite and every time I go through a rough period things go back to being better than they were before.