Ok I watched most of the Norris stuff, I’m still confused a little, there are some contradictions. I did a little research on the guy and he gets points for being interviewed in 2006 by the oc register and his predictions were fairly accurate, however he loses some credibility because he sells a program and training that has an infomercial feel to it. Plus, he wasn’t the only one that thought we were heading for a crash, but to his credit, he was fairly vocal, fairly early.
But I watch the interviews and he advised his daughter to buy in Moreno Valley right now, he says that the prices are below cost and below rent, that makes sense to me. Then he talks of the shadow inventory and the big wave coming onto the market starting now and ending in about 18 months and that graduates of his course have used his methods to buy condos for 30k that rent for $1100, but then he says he bought homes in S.D. in December knowing he could flip them now in the low inventory frenzy and that he will buy and hold in the next wave, not flip. That kinda makes sense too, well, except for the part about the 30k condos if you take his training.
My trouble is he has placed both bets, unless he wants to clarify about micro markets, he never did that, he mentioned various markets and scenarios but then is on the first interview saying there has never been a better time, 4.5%, cheaper than rent, buy, buy, buy! But in the second interview he says the market will be flooded very soon so wait, wait, wait! The interviews were in the same week. If he was a poster on this site he’d be crucified for playing both sides, if he thinks one town is a buy and another is a wait, then he needs to be more clear. Or is he saying everything and the consumer (those who pay for his advice/training) just hear the part they want to hear. I don’t have the answer, he seems a lot more in tune than other “get rich quick” guys peddling strategies, but I have these nagging questions, perhaps he doesn’t answer them all on purpose so you pay to hear the rest, and that is where you lose me. There are three choices of characters to play in this game, he can be the guy who has all the answers and makes the right plays or you get to be the sage and dispense free advice, or you can be the guy who makes his real money from selling the info without the risk. You can’t be a combination of any of them, you can’t be the seller of info while being the guy who plays the game, because the real player doesn’t want the competition, if he tells everyone the secret, then it’s no longer a secret.
