What is going on with the market? I’ve noticed a couple things going on in the market recently. First, the way more & more people are being speculative buyers….which reminds me a lot of around 2007, & the starting of the “hit the fan” fun! Now, I see people purchasing property at pretty much fmv, rehabbing then sitting on the property for a bit because they over rehabbed or didn’t take into consideration all of the rehab. Some, in Texas for instance, sit for months on over beautified properties, all the while paying payments & utilities, then wondering where the profits went.
We also have those trying to do some rehab, competing with cash buyers who apparently are getting 35-40% on their properties? While these poor wholesaling people, trying to learn the business, are being mocked, told what they are doing is illegal & are getting discouraged, because the business of investing isn’t fun anymore, it’s dog eat dog….again, in a new cycle. That’s not saying it can’t be done, I find property daily, but do I want to become the “Beast” I once was to “get it at any cost”?
Therefore, looking at a couple scenarios….it seems like the market is well & running….