Thursday, March 31, 2016

Greater Roanoke Real Estate Industry Predictions

Real Estate Investors of Virginia has another awesome meeting lined up for you. Our special guest speaker will be REI member and President of the Roanoke Valley Association of Realtors, Donna Harris.

Donna is going to do a presentation on a 10 year analysis of real estate in the valley. We will look at past and present conditions to collectively make determinations on what we see for the future.

What’s happening in the real estate industry in Roanoke? Are we going up or are we going down? You can’t effectively manage your money unless you know what the future holds for you. Those who closely monitor the industry and determine what is going to happen before it happens become very wealthy over time.

Millionaires are made in times of boom and bust. At the same time those who aren’t watching often lose tremendous amounts of wealth.

When times are good and real estate is expected to rapidly incline in value, landlords stop buying. Properties get too expensive to buy. They no longer cash flow in these times. Smart investors switch to flipping properties during booms. If the real estate industry is stagnant or going down the strategy is to buy and hold which is, for those who don’t know, to be a landlord.

Since the big crash in 2008, landlording has been absolutely incredible. Locally in Roanoke we have not had a good flipping economy. Some towns in the country have but that has primarily happened in tourist areas like Las Vegas or other areas that had very strong job growth such as Houston Texas or the oil gas areas of North Dakota.

Locally rents have been going up for a long time now and we’ve had a great ride. How much longer can it go? We are on the edge of another big recession right now. One that is expected by several economists to be a Great Depression type event. A recession happens on average every 6-8 years. We’re past that so it’s due.

Lets put our minds together this week and lay out a good guesstimation of where we are headed so we can have our money invested in the right areas.

Come on down, don’t miss this meeting. All are welcome. Fill your mind with good productive information that will personally benefit you. Come socialize with a group of friendly like minded people every Tuesday evening at Real Estate Investors of Virginia, 6:30 pm to 8:00 pm at Corned Beef & Co, Downtown Roanoke City.


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