Ive recently notice a huge influx in listed properties for sale.Im a firm believer that no matter how many properties are listed people are selling and buying.Therefore if you can buy a property at a huge discount you will profit .BUT… Is there a point where the saturation of listed properties just doesnt make sence to invest in that particular area?
if they are not buying a home then they will be renting a home so do not worry…as long as it will cashflow as a rental or l/o you be ok…
It’s called a “buyer’s market”, that’s the perfect time to buy whether you’re an investor or just looking for a home. It all goes back to supply and demand…so many houses to choose from, so the sellers can’t name their price. Ideally, you would be buying up as much of the property as you can and when the “sellers market” comes back around, well you’ll be the King of your town.
But also remember alot of investors and everyone serious about the investment world too should be stock piling some cash so you can really take advantage of the banks with cash deals when all the REO’s pop up on the market…We all know it will happen in 18-24months with all those teaser loans and now is the time to prepare…I am still investing but now more wisely…I am going more for cheap rehabs that are bought at 50cents and being sold at 85cents on the dollar…
Even though I am only a small - time private investor and don’t have a substantial portfolio of props, I sense an oppurtunity to seize bargain properties in the near term. I live in mid Michiagan, where GM and Delphi have a large ( money - losing) presence, and the market has softened substantially in the past year. Houses are piling up and bank f/c’s are heading north. But it’s tough to remain resolute and stick to your principles when the market is going backwards. But if I don’t act now I will regret it later.
Just my 1.5 cents…Mike.