If you can show a profit right now buying and renting that is exceptional but i would say that it is a half court shot for most people in this market.
I have a fiend who is a banrupcy attorney in NY who own a real estate brokerage who is turning a profit becasue he is buying up preforeclosers at steep discounts and haas worked with severl lenders which has helped him stream line the process. He is also capitalized through a group of investors and his brother is a general contractor.
That is a people and professionalism that is need to turn a profit on real estate. The average Joe just can’t do that so to suggest that there are opportunities to own and make a profit (there might be) but to a larger extent this is probably not the best place to put your money. Even I will readliy admit that and I am not nearly as bearish as many others on the board.
