“The real estate market is in a shambles right now,” notes radio show host and summit organizer Robert Helms. “Recovery isn’t going to happen until buyers return to the market in large numbers. But most potential buyers are either scared or unqualified under today’s stricter conventional lending requirements.”
Helms says that investors have a major role to play in recovery. “Banks don’t want to be landlords,” he notes. He contends that investors are the ideal candidates to step in and buy excess properties. This stops the flood of inventory being dumped on the market, which helps stabilize prices, while providing a much needed pool of landlords and private capital to manage and improve these often vacant and dilapidated properties.
Co-host of The Real Estate Guys™ radio show, Russell Gray, adds, “The market needs more investors to step in. When the number of owner occupants goes down, it’s common sense that we need more landlords. Otherwise, the properties languish with the banks and continue to drag on the economy.”
The two men founded the Investor Summit eight years ago at the beginning of the real estate boom.
“Filling up the ship back then was easy,” states Helms. “Everybody and their brother wanted to be a real estate investor.” But since the bust, many people have fled real estate as an investment vehicle - never to return.
“It’s sad,” says Gray. “Ironically, now is arguably the best time to be a buyer of real estate. Interest rates are low, prices are very reasonable compared to rents, and there’s a big selection; plus there’s not much competition because so many people have left the business.”
For this year’s Summit, The Real Estate Guys have recruited McElroy and Palmer - two of most respected names in mainstream real estate investing. Both men are long term industry veterans with proven track records. They’ve each gained substantial notoriety through their roles as advisors to investor and author of the record setting best seller Rich Dad Poor Dad, Robert Kiyosaki.
“We are thrilled to have such experienced and successful investors as our keynote speakers,” says Helms. “Both of these guys have been through tough real estate markets before. They know tough times often present the best opportunities.”
Mr. McElroy began his career as a residential property manager and today is a principal with MC Companies in Scottsdale, Arizona. The firm syndicates, builds and manages income properties in three states. They are actively acquiring additional units during the downturn.
“Last year was our best year ever,” according to McElroy, “and 2010 is looking even better. This is the one of the best markets I’ve ever seen for acquiring income properties.”
Mr. Palmer is a principal of National Note of Utah and began his real estate career in 1976. He has extensive experience in sales, development and is widely regarded as one of the brightest minds in creative real estate financing.
“They say necessity is the mother of invention,” comments Palmer. “Back in the early 80’s when interest rates were sky high, you had to be creative or you didn’t survive. Even though today’s rates are low, financing is still hard to get - so creativity has once again become a necessity.”
Also joining the Summit faculty is attorney Garrett Sutton, who specializes in asset protection and syndication strategies for real estate investors. He is a best selling author in his own right and along with McElroy and Palmer, is also a “Rich Dad Advisor” to Robert Kiyosaki. All three are contributing authors to one of Kiyosaki’s latest releases, The REAL Book of Real Estate.
“In spite of the current short term uncertainty, most people expect real estate to be worth more in 20 years,” observes Gray. “The big question is when, where and how to take advantage. That’s where experience is invaluable. These guys have that experience.”
“People are scared right now and rightfully so,” says Helms. “The job market still stinks. The deficits are huge. There are foreclosures and bank failures in record numbers. However, history tells us that huge fortunes are made coming out of every recession - sometimes from blind luck, but more often because of education, knowledge, sound strategy and bold action. For the national economy to get healthy, each individual family needs to prosper and regain confidence. We think the Summit is a great forum for individual investors to learn and share ideas to advance that process.”
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About The Real Estate Guys Radio Show:
The Real Estate Guys radio show has been broadcasting continuously on conventional radio in the San Francisco Bay Area since 1998. Today, The Real Estate Guys show is also heard all over the world as one of the most downloaded real estate talk shows on iTunes. For more information about The Real Estate Guys, visit www.realestateguysradio.com.