Like the phoenix, whatever falls will rise again - the same can be said about the real estate and construction markets. Sure, its been a difficult 2-3 years in these flailing markets, but the it is slowly beginning to turn around. Even with states like Arizona, Florida, and Las Vegas experiencing significant issues with foreclosures and incomplete construction projects, even these markets are starting to gain some steam.
Let's take Las Vegas for example: the number of foreclosures has reached an all-time high, BUT, if you've ever been to one of these Foreclosure Auctions, you would find that there are just as many people, mainly investors, ready to purchase as many of these foreclosures as they can. Some of the investors are planning to hold the note and simply ride out the market until it improves, and then sell it for a profit, but this is NOT the norm. Most of the investors are actually looking to purchase the homes, renovate them, improve them, use them now as a rental property to generate some income and then sell it in the future for gain.
This is where YOU come in: If you are on the construction side of the fence, then this would be a great time to start papering the Owners, Owner Representatives, Agents, and GC's with your resume. Let them you're out there. Let them know that you can perform the work that needs to be done at a fair price. While your profit margin may not be as great as it once was, this is the perfect time to build your reputation and penetrate the market once again. As your reputation grows, so will your client base - you will be in demand and have a chance to charge more money for service, and increase your profit.
On the flip side, many of these investors are not astute, and do not have a business sense for real estate. Many of these investors are simply buying because the news media tells them it's a good idea. They know nothing about property management, dealing with GCs and SCs', what a Project Manager is, where they would obtain a building permit, or what a city ordinance. This is where YOU come in. This is the time to start researching the owners of REOs and Foreclosures in your area, sending your resume to the owners of these companies, letting them know what you can do, and picking yourself back up.
What Next: Make sure you have a GREAT RESUME! As a Certified Professional Resume Writer with extensive experience in the Real Estate and Construction field, I know how important it is to make sure that your resume, (e.g., your FIRST IMPRESSION) is effective. Do not trust the resume to an amateur - make sure you hire someone who knows the Construction and Real Estate Fields, and can help you get back on your feet!