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"Thanks again for all the help that you and Evelyn have given us getting us through our first deal. It has been a great education and learning experience. We have been able to get the house rehabbed and we just got two full priced offers even before we finished the rehab. I really appreciate you letting us tap into your knowledge on real estate and I will tell you that we know that we couldn't have done it without your guidance. It looks like we will put over $26,000 into our pockets on our first deal. Fantastic! Thanks, "


Mark Smolenski, Bellevue, WA


"Paul & Evelyn thanks for sharing your wealth of knowledge regarding the rehab of the house in Everett. And for being there when we need to be walked through the purchase of our first Subject To house. We were able to out over $25,000 in our pockets on this deal. One more and Marie will be able to leave her job. Thanks again."


Keith and Marie Sims, Bothell, WA


"Paul, you are great for answering my questions. There are not many people locally that I can call to ask these types of questions that would know the answer. Some of these are pretty advanced strategies and yet you give us hints that help us structure these deals well. I will say that attending your seminar a couple of years ago enabled us to go as far and as fast as we have. Thanks again."


Angelo Ongpin and Stein Rios, Seattle, WA


“Paul, I am so excited about investing and know that with your help getting educated I can get started right. Thanks for walking me through getting the house under contract in Dallas. I do value your input and time.”


Diana Gonzalez, Issaquah, WA


“Your support is great. As was the conference call. I found it very helpful to get local input and information. At most bootcamps everything is so general.”


Inga McNally, Bellevue, WA


Remember when you could have picked up a good piece of Real Estate for a song...
...but you didn’t?

In the last 5 years, the value of real estate in the greater Puget Sound area has increased dramatically. (See figure 1) Imagine the return on your investment in just a median priced property, even without taking into account leverage and depreciation for those same years. The growth is phenomenal. Buying and holding for wealth is where the money is.

“But Paul, what about the housing bubble? Haven’t you heard that the real estate market is tanking. Even if I could find a property, I would be afraid to buy it out of fear that the value would go down.” Yes, I have heard those same stories. I read the papers and watch the news. Everyone is spouting the dire news about real estate being unstable and that the bubble is about to burst.

Yes, I agree. There probably is a housing value readjustment coming in certain areas. It was bound to. But I will still insist that all those nit wits like Suzy Orman are crazy. They keep talking like Real Estate is a national market rather than a local one. There will always be certain areas that are worth investing in. You just have to investigate and do your research.

Lately in King County it has been tough to buy houses because things have been selling so quickly. But since the middle of summer things have started turning. We are slowing down quite a bit. The number of properties being listed or that are active on the market is climbing steadily and will continue well into next year. (See figure 2) These numbers tell us that the volume of houses sold is down when comparing July ‘06 to July ’05. Also the number of houses that are waiting to be sold are up dramatically over the same period

This means that we will be able to buy properties easier and be choosier while doing so. Now is the time to be an educated Real Estate Investor. You must be careful, choose well and buy properly. We are over the top of the seller’s market curve and going down buyer’s market side. (See Figure 3) Most astute investors are waiting until the bottom to start buying in again. They are waiting for the amateurs to leave the field so they can get in and pick up all the ripe pieces.

What can you do right now to prepare yourself to invest in real estate? First you need to get some good diverse knowledge under your belt. That is why you are a member of REAPS in the first place isn’t it?

It is the time to get yourself ready for when the market gets to the bottom. Pick up the techniques you will need from every available source and obtain or set aside the capital necessary to have the resources to purchase as many properties as you can when the fair weather investors scramble to get out.

The prepared Investor will always win out over those who are sitting waiting for a deal to fall in their lap. Which type of investor do you want to be?

© 2007 REI Success, LLC™.