Lots of folks are running scared these days. Economic indicators don’t look so hot, gas prices keep soaring, and the stability of our financial institutions is in  question. William Nickerson, author of, “How I Turned $1000 into a Million in Real Estate- in My Spare Time,” started his investing career during the Great Depression to the chorus of naysayers telling him it couldn’t be done. (Yes, I’m actually reading the book… in *my* spare time.)

Someone we know bought a small, 2-bedroom condo in the Houston area in the early ’80’s for 70K. He was able to rent it out at break-even rates and was quite pleased with hisself for his smart investment savvy. By ‘85, the value for his little rental had dropped to 30K. Market rate for rents dropped and our investor found himself on the wrong end of an alligator.

Want to guess what he did?

He bought 10 more

For more rumination on this subject, I’ve written an article for BiggerPockets titled, “Is the Time Right to Invest in Real Estate? Chicken Little Vs. PollyAnna.”

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