Preston Ely

[Dennis Nemitz]

Preston Ely is predicting doomsday for small investors in real estate. Is he just trying to sell his webinar?

[Rick H.]

I've never paid much attention to someone who wants to offer "sage advice" at the ripe old age of (?) and insists on addressing me as "dude."

A theory that one particular aspect of the economy wil be the catalyst for a cascading implosion is pretty strong stuff. Backing it up with numbers is something different.

Last weekend I attended an all-day event in Ontario, CA presented by my friend Bruce Norris. If you did not attend, you don't get to receive his detailed predictions (for CA) and conclusions, however he's successfully called it for nearly twenty years.

Candidly, a full day of charts and graphs can be trying when your attention span is as limited as mine, however I spend the $500 and dutifully and cheerfully attended, along with other serious investor friends and newer folks, as well.

Although there are many, many factors affecting our CA market, I was surprised at the paltry small number and percentage that large hedge funds and other institutional buyers are actually buying in relation to the total picture. It ain't as big as one would think.

As for Prognosticator Preston, he may get some free press out of his predictions however I prefer to get my information from more trusted sources that are really in the real estate business doing deals who can support their predictions with solid data.