I feel like some of you good folks are taking my advice to get back into the real estate market while the prices are good, and the data is starting to reflect it. 
Today, the National Association of Realtors announced that pending home sales (properties under contract for sale) ROSE 5.3% in June (the last month for which data is available). This is HUGE because the news service Reuters surveyed a group of economists whose aggregate prediction was for a 1% DECLINE!
The explanation being offered by some is the “bottom feeders”, aka INVESTORS and some smart consumers, are beginning to see that the prices available now are too good to pass up.
Congratulations, my friends. Some of you are taking action and will reap the rewards!
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Call me a catfish, I guess…
Good for you
— Bryan Ellis
Thanks for the great blog, Bryan. I have a hard time trying to convince people that real estate is not dead but is alive and kicking. I especially like your guru reviews. I heard that 80% of the “gurus” don’t even do the deals but only teach it after having read some books and courses about it. Your blog gives us some measure of due diligence before investing any money on any of them. There is one “guru”, Charles Dudley in Virginia (the REI Dominator guy), who recently tried a bait-and-switch on me by trying to substitute a used, incomplete, and inferior product in place of my original order and then tried to get me into his “mentoring” program in lieu of my original order but I remembered your blog and could tell he was a fake and a sham by talking with him on the phone. For example, he tried to convince me to buy mobile homes and then lease-option them back out by charging a $10,000 option fee up front! Charging this high of an option fee may work in California or Hawaii only because of land prices but it sure wouldn’t be very successful in Virginia or South Carolina (where Dudley and I reside, respectively). Your blog reminded me that scammers like him are out there and prevented me from losing my money to this scammer. I had to threaten to notify the Virginia attorney general on him but he finally refunded my money (and then tried to file a dispute against me with PayPal after refunding it!). I keep the emails from him and from PayPal for my amusement and also as proof to warn others to stay away from him.
We have two properties under contract in Baltimore that we picked up in the last 30 days and are planning on buying more. Most of my buddies who are investors are tapped out because they kept on buying while the market was skyrocketing and can only sit on the sidelines and watch right now. There are so many cash-flowing deals out there right now that I hardly have to use my main strategy which is to purchase and rehab before the property will cash flow. Conventional financing is getting harder to get but if youre creative there are so many deals out there its like the preverbial shooting fish in a barrel.
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