Exotic loans. ATM homes. 25% option arms. Sure. These were available pretty much everywhere in the RESIDENTIAL real estate market. I mentioned above to avoid the RESIDENTIAL real estate market. Do not buy any SFRs or condos.
From what I’ve read of the bubble, it has affected RESIDENTIAL real estate, not commercial (defined as office buildings, 5 plexes and above).
And the reason why real estate is the best way to get rich is simply because real estate is how most rich people have become rich. All of the good tax breaks are in real estate. You can put down 20% to buy a property that you can take advantage of 100%. Simple. This is true in down markets and up markets.
(does this mean you can buy any property and it will make you rich? no, you have to choose well).
(for a person who is good at internet research, the idea that you’re not clever enough to figure out where the possible up markets might be is somewhat perturbing. if anything else, refer to my post above where I mentioned Texas and North Carolina)
I would like to tell you more, but I get the feeling that there is nothing I could say to make you change your mind. Which is cool.
