The sharks are back in the water

Pensacola Milton Homes
I was talking to a friend of mine today who invests in real estate a little (and like most of us is conservative enough to keep some savings in cash and some in stocks or mutual funds) and he asked when I was going to bring him another property to buy cheap, fix up and sell in 60 days.
Todays revelation is that the sharks are back. Investors are again looking at the market conditions here and saying; "Hey, it's time to float some money again." After all there are a LOT (about 6700) of residential properties available, prices are falling, and despite the TV pundits complaints about the economy, interest rates are either falling or, at worst, stable. Don't get me wrong, check the date of this post and then check the news - there is plenty of bad news to go around. It's just that the economy seems good.
It's the back side of the equation that is the problem. Buying cheap and fixing up is getting easier every day. But selling in 60 days, or 90 days or even 120 days at a 20% mark up (the investors usual goal) is tough right now.
My advice to my friend is: buy something cheap, fix it up and rent it out for 2-4 years then sell it. You know the drill - borrow some money and let someone else (the renter) pay back the loan.
There are great oppotunities presenting themselve right now - but only for the patient investor.

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Jordan