Buy When There is Blood In The Streets

O.K., so maybe there's no blood in the streets yet, but the stock market is certainly taking a beating. I've been watching several stocks that I've longed to buy in to, but the price was always just a little too high for my tastes. Now those prices have dropped and I'm moving on two of them already. There could be more fallout with the stock market, but the point is to pick up the bargains on quality stocks that will shoot back up in price as the market recovers. Is this a temporary lull or a full blown bear market? I don't know. But I do know that I'm not missing out on a buying opportunity. I sure like to make all the sales at my favorite stores and pick up bargain merchandise when the prices are 25% to 75% off, so why not pick up some assets while they're on sale. Most likely I'll have to hold on to them for a while, so I'm not looking for any short term, quick cash positions here. I'm looking to pick up some core stocks for my long term portfolio. Of course, as I've mentioned before, they will all be dividend stocks. So until the price recovers, I'll be drawing some cash from the dividends.

I'm still watching the papers and the internet for a good real estate investment. I know of an apartment building in my hometown that has just reduced their asking price by $550,000 on a 28 unit building. I think it would be a wonderful investment, but it is most likely a little more than I need to take on for my first property. Still, I think it's good to watch deals like this, since at some point down the road I may be ready to take them on. At any rate, I will be watching for the right deal to come along. With declining prices in real estate due to the mortgage meltdown, I should come out pretty good. I'm seeing all kinds of properties going for thousands less than they would have 6 months ago. So my target of purchasing my first property by next fall should help me pick up a bargain.