Soft Market Investing
With the soft real estate market the way it is, was wondering what most investors are doing now?
I am interested in bidding on a home that is going to sherrifs sale in early November. The house is in good shape and just needs cosmetics. I hate to let it go, but am concerned if I will be able to sell or rent within a year. Are most waiting the market out or, instead scooping up the deals now and renting until the market comes back? Could be a long haul before things stablize. Getting cold feet.
My investing philosophies:
Soft Market = Buy & Hold
Hot Market = Buy & Sell
[addsig]
I know that in a solid soft market rentals can be fine or strong. Projections stated that the next soft market would have good rent opportunities based on lack of ability to buy. I am wondering what others are thinking about the current rental market that seems to have more problem tenants and competition is holding down rental rates as people who want to sell and cant become landlords... and investors who bought too much or rehab are not able to make the sale so they are landlording...
I have seen some interesting activity in affordable housing and in more speculative mid-midhigh end custom building.
I look for some bumps and warts but tons of hidden value.
Loon,
You are right on with the triple 5s seen a lot of that myself. Are you going to do more buying and holding? I know you are doing a lot of deals in Northern Minnesota in small towns is it worth it?
James
What types of marketing do you use and which is most effective for you?
Thanks
OK.........next question...........
If investor is asking $137,400, remember, he has it listed with a real estate agent, and commission has to be paid.
What would you offer?
Thank you!!
I would like to get an investors opinion on an offer price for this property. In the above posts, the investor suggests offering a low ball offer. I would like to know what an investor thinks is a low ball offer on the 137,400.
Again thanks
I agree with vguess. Take a look at the house. Was it remodelled? WIll it need repair etc. Analyze that, decide what your mom is willing to spend and make an offer.
Noone can really help you figure out the what to offer as they are not where you are to look at the property
Hi all,
Thank you for your suggestions.
I wanted you to know the end results.
My mother gave an offer of $123,400.
Seller came back at 129,800.
She countered offer at 128,400, and seller accepted.
Mom said " Thanks for your imput"