How is the current market affecting real estate investors?
It has affected my business mainly by making it more difficult to monetize properties through sales and refinances. When selling a property, there is a great deal of competition. In my area, there has been a 250% increase of the number of houses on the market compared to 3 years ago. The mortgage industry is still changing so much, who knows what’s in store for us there. But, with that said, it’s a great time to buy! Anyone that has a lot of cash and/or has the ability to buy and hold properties is in a great position right now! There hasn’t been a better time to buy in many years. In my opinion, the most important thing you can do right now is to plan for multiple exit strategies. This will insure that you do not put yourself in a tough spot with a house in today’s market.
