The New Year is upon us and 2008 is going to be another great real estate investing year!!  I can not remember the last time we had such a ripe market for the investors picking.  Although this market down turn is very reminisant of other markets we have experienced in years past, I feel the big difference is interest rates still remain low.  

As investors we need to change with the market; if not we will become extinct.  As the market changes around us we can not keep doing the same things have been doing.  In past surveys done by REIA of Oakland one of the top results for subjects to cover is finding deals.  Well this task seems to be an easy one these days; you would have to look real hard not to find the deals because they are everywhere!!  The big issues these days are finding the financing, with the mortgage industry in foreclosure turmoil the lending belt has really tightened.  There are still programs out there for investors you just have to look around; many of our great mortgage vendors at our monthly meetings have mortgage programs geared for investors.

Another side effect of this foreclosure market is the ever growing rental market.  I am seeing a very strong rental market emerging.  Homeowners and tenants that have been displaced by foreclosure are on the hunt for housing and their numbers keep growing every day.

May 2008 be a successful year for you and your endeavors.  

Chris Yatooma, President

Real Estate Investors Association of Oakland