Buying a property nowadays can be down right maddening. However, trying to figure out whose giving you the “true numbers” and who is just greasing you up for a double-shot enima espresso can make you want to walk “The Green Mile.”
I’ve been going back-and-forth in my mind if I should disclose my true feelings. My deep down concerns. But after seeing the headline from the Associated Press. I just couldn’t take it anymore. I need to tell you I have a problem.
My Problem: I Don’t Trust Anybody’s Numbers
Not NAR
Not CAR
Not CBA
Not ABC
Not CBS
Not NBC
Not CNN
Not FOX
Here’s what got me out-of-the-closet as red-blooded American PessimOptimist.
The guys at the Patriot Trading Group deliver the best straight-forward and entertaining financial radio talk shows I’ve ever heard. In Phoenix, Arizona, from 9 to 10 in the morning, they broadcast on 1010 am.
They brought to their audience’s attention that buried deep down in the bottom section of the news article about GM laying off 21,000 factory workers, AP wrote the following:
The company also said it plans to reduce its dealership ranks by 42 percent from 2008 to 2010, cutting them from 6,246 to 3,605. When asked how GM would accomplish that, Henderson would say only that the company would be making offers to the dealers in the coming weeks.
I’m going to do simple math for you folks from St. Peters, MO.
6.246 – 3,605 = 2,641 dealerships will have their necks stretched over the chopping blocks.
Let’s assume the average employee headcount (full-time/part-time) for each dealership is 100.
2,641 x 100 = an estimated 264,100 folks should start asking for home loan modifications or the nearest drive-through line for the unemployment office.
The headline should have read:
GM To Cut 264,100 Jobs In 24 Months
That will get you primed and ready to hand-over so more bailout money. Hopefully, none of these future displaced car salesman live in your neighborhood. Because if they do, and you own your home outright… prepare for another round of home-equity spanking from the Bank of Obama foreclosure belt.
The Only Numbers I Trust
- I trust my local AZMLS numbers. They can’t be manipulated. I can check them myself and view the trends.
- I trust my odometer as I drive the streets of Mesa, Arizona.
On Alma School and Southern we have the In & Out Burger coming soon, (they received over 300 applications) and the remodeled Fiesta Mall on the south-side of the street. Then you see nearly 60 acres of bankrupt, vacant commercial property surrounding it. I want even mention AquaTerra. My 10 year-old nephew could tell you, $900K condos wouldn’t sell in Mesa, Arizona.
So as my father would put it, “What is the play?”
Meaning, that’s great, good info, thanks for sharing… now how can I make something happen. Peter Drucker stated, “The best way to predict the future is to create it.”
The play is:
- Being able to raise cash.
- Position your partners to create higher and better uses of opportunities at a massive discount.
If you don’t know how, I have found a great resource and partners that will show you how to raise capital.
I personally missed the boat the last two times around, but not this time.The opportunities are out there. Its going to spread like the swine flu.
Think!
What can be a higher and better use for the soon-to-be defunct car dealership? What kind of profitable business can you get into that services the vendors who are owed money? Maybe ink, because there is going to be a lot more red.
Moving Forward,
Kendall Mathews, vp of Hard Work, Deep Thought & Massive Action
P.s. Here are some free videos by Patrick Riddle on how to analyze opportunities and raise capital.
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