OUR STORY

This blog was born out of my failed personal investments that started in 2005.

In 2005, I started investing in the Reno Real Estate Market. Feeling good with the income from my real estate business, I decided to buy a nice bungalow (with another investor) in Spanish Springs, and one more property in Northwest Reno. My plan of attack: Retire early. Retire rich!

While I was in the process of buying my last investment home, Dan Wyatt (a friend of a friend) warned me about the impending market crash pointing me to solid facts and figures. He said there was no way the demand could sustain itself, and showed me historical graphs on an overheated real estate market. He demonstrated that some real estate related stocks were rapidly falling over the peak. This was, Dan predicted, the beginning of the end.

I sought advice from other sources, seasoned real estate professionals. Not one single soul agreed with Dan Wyatt. Following their advice, and my own instincts, I completed my plans, and closed the second investment home in early 2006. The market bottomed out in July 2005.

In May of 2006, I noticed homes were taking longer than usual to sell. Buyers were slowly fading. I decided to talk with Dan again. Dan's new graphs clearly showed the market heading downhill.

This time I was determined to make the right choice. I called an emergency meeting with my partners and top clients, sharing with them all that Dan showed me. To my surprise, we all agreed to take radical steps. We would sell our investments and cut our losses short.

This would prove easier said than done. In early 2006, the majority of people were still living on cloud nine, happy and making money in real estate. The mainstream media said nothing. And here we were, planning to lose thousands of dollars in our investments—cut our losses short—in anticipation what was coming. We saw the future.

Looking back, I know that if my partners and I had not listened to Dan, we could have easily lost five times more than we did. Bankruptcy was just around the corner.

Ever since I started paying closer attention to the market than the “experts,” it has never failed to amaze me. Observing the market and listening carefully to what it's saying, proves far more helpful than all the experts on T.V, mainstream media, and real estate professionals combined!

In 2007, I started this blog to share my story, and hopefully help investors like me—the ones who don't have their own “Dan.”

I want to end this with a quote from Jim Stockdale "Confront the brutal facts but never lose hope that in the end you will prevail"

Kind Regards,

Email: jsalcedo@chaseinternational.com

Office: 775-850-5900 ext. 136

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