News & Updates
I’ve been hearing about a potential real estate crash since 2014. Smart people, big names, and all these predictions have been wrong. The truth is no one can predict a crash, and these predictions are more about selling books and seminars than giving practical information. No one would buy a book titled: Real estate probably won’t change much in the next 6 months. Not a very compelling title, is it?
Real estate market is changing fast. A couple of months ago, house prices were on a historic rise, but now, interest rates are on a historic rise. Prices are plateauing and even dropping in some areas. Sellers and house flippers need to pay attention to the details and put a well-priced, well-rehabbed product on the market. Buyers are becoming choosier and more critical of the work being done, and they are sticking to their inspection and appraisal contingencies. These tips will help.
First let’s get on the same page – what the heck is BRRRR. The short answer is Buy Rehab Rent Refinance Repeat.
Unfortunately for investors shopping for deals, prices have grown exponentially in the past few years. There’s many factors for this, but the most basic one could be the simplest: supply and demand. Although it may seem impossible, this will change eventually. But for now, we need to get used to bidding wars, so let’s explore ways we can win them until things cool off, and we (hopefully) start to see the market normalize.
