Analyzing the market

[Karen] Times are changing very fast. Not always for the better. We can all see how our lives have changed from one day to another and this is relative to our employers, businesses, families and friends.

I am in the process of researching a real estate investment in the North East and although I have made similar real estate investments in the past, the times have changed so drastically from my first investment to the present, that every aspect of the investment must be reconsidered.

In the past, I purchased properties to produce passive income as I have learned and strive to do in my quest to create wealth. I presently own numerous rental properties but the economic times have taken their toll, and now the strategy must change.

The problem? Well the problem is that just as homeowners are being forced into foreclosure because they can not pay their mortgages, those in the alternative rental market are finding themselves hit by the same challenges that are hitting their counterparts. How does one pay rent when they are downsized, when their car has gone from a fill up costing $40 to $70? These same individuals quite often have lost jobs and are often forced to make withdrawals from their retirement accounts. That is if they have retirement accounts. Where will the money come from?

Every single aspect of our lives has changed and unfortunately, not for the best. And so, what is the strategy for the present? Flexibility!