IN MY TOWN: From a Buyer's to Seller's market...A time to shine???
There are deals in EVERY city I am sure.
However, it seems that the strategies I have been focusing on to find them are most effective in a down or buyer's market. I am looking to double close on wholesale flips (REO's, MLS, and FSBO.)
So now that Dean has alluded to a shifting market in some areas in his video blog 204, there are a lot of people wondering how to shift our strategies to calibrate.
In 25:1 do we start offering 80, 90, or even asking price on distressed properties?
How do we identify the differences between a logical and speculative buyer and strategically market to the latter?
Do we push on with buyers market strategies in a sellers market hoping to still find a diamond in the rough, or
do we find the best seller's market strategy to get busy with, or
do we shift gears and go look for our favorite remaining buyers market somewhere else in the country and ride it out there?
I finally committed to REI and these awesome strategies and now have almost 2 months of full-time learning and full-time action under my belt. So far I have gotten real close to my first deal but it hasn't materialized yet.
One thing is that everywhere I turn in my city there seems to be low inventory, lots of competition, active comps 10-50% more than sold comps, hungry buyers, multiple offer situations, no contingency contracts...etc.
I am not discouraged with REI or Dean's advice, simply with my market and how its turned into a sellers market in an unusual way.
Are there any new or old Kick-ASS seller's market strategies that are comparable to the NMD wholesaling techniques that everyone has been focusing on since the bubble popped?
If someone can help me weigh the pro's and con's of plugging along in my market vs finding a better one, I could use the insight.
Perseverance - steady persistence in a course of action, a purpose, a state, etc., especially in spite of difficulties, obstacles, or discouragement.
I always appreciate the wisdom, positivity, and support this DG family produces and provides.
__________________
"We are what we believe we are.....
Only those who will risk going too far can possibly find out how far one can go...."
-CSL
There are deals in EVERY city I am sure.
However, it seems that the strategies I have been focusing on to find them are most effective in a down or buyer's market. I am looking to double close on wholesale flips (REO's, MLS, and FSBO.)
So now that Dean has alluded to a shifting market in some areas in his video blog 204, there are a lot of people wondering how to shift our strategies to calibrate.
In 25:1 do we start offering 80, 90, or even asking price on distressed properties?
How do we identify the differences between a logical and speculative buyer and strategically market to the latter?
Do we push on with buyers market strategies in a sellers market hoping to still find a diamond in the rough, or
do we find the best seller's market strategy to get busy with, or
do we shift gears and go look for our favorite remaining buyers market somewhere else in the country and ride it out there?
I finally committed to REI and these awesome strategies and now have almost 2 months of full-time learning and full-time action under my belt. So far I have gotten real close to my first deal but it hasn't materialized yet.
One thing is that everywhere I turn in my city there seems to be low inventory, lots of competition, active comps 10-50% more than sold comps, hungry buyers, multiple offer situations, no contingency contracts...etc.
I am not discouraged with REI or Dean's advice, simply with my market and how its turned into a sellers market in an unusual way.
Are there any new or old Kick-ASS seller's market strategies that are comparable to the NMD wholesaling techniques that everyone has been focusing on since the bubble popped?
If someone can help me weigh the pro's and con's of plugging along in my market vs finding a better one, I could use the insight.
Perseverance - steady persistence in a course of action, a purpose, a state, etc., especially in spite of difficulties, obstacles, or discouragement.
I always appreciate the wisdom, positivity, and support this DG family produces and provides.
"We are what we believe we are.....
Only those who will risk going too far can possibly find out how far one can go...."
-CSL