What is going on with the market?
I’ve noticed a couple things going on in the market recently. First, more & more people are being speculative buyers (which reminds me a lot of around 2007, & the start of the “hit the fan” fun!). Now, I see people purchasing property at pretty much fair market value, rehabbing it then sitting on the property for a bit because they over rehabbed or didn’t take into consideration all of the rehab & acquiring costs. Some, in Texas for instance, sit for months on over-beautified properties, all the while paying payments & utilities, then wondering where the profits went, some eventually being foreclosed on.
DO NOT…I REPEAT, DO NOT get discouraged by this. Have you ever done anything in your life that was difficult at first? I am not a good, sit down in the classroom student, so I gained LOADS of street smarts. I have been discouraged in life because I had the idea that I should somehow already know something , & I compared myself to others. PPPSSSHHTT, NOT OK! This is not something we learn in high school, there is a learning curve. Use it as such! THERE IS NO DISCOURAGEMENT in learning…
FIRST OFF….BE consistent..others are saying there isn’t anything out there anymore-BS! For them, there may not be anything else out there, but I find property NATION WIDE regularly. It’s out there, you just have to put on your investing glasses!
Second: Check out everything. Do you drive down a street & there is an empty house you always wonder about? WHY HAVE YOU NOT CHECKED IT OUT? Take ACTION! This is the biggest difference in successful people & people who want it….