mine, and how things change.cepat! If you’re still investing, I want to know how to adapt and what you see in the future. I’ll start with some of the changes we’ve made.
Note: Most of what I share is what we’ve experienced and changed in our own business. This is largely based on our experience in real estate investment in 2008-2010.
Forward. Historically, the real estate sector has continued to function, only needing to adapt to market changes. Sue:
Stay flexible . Learn more about . funded, stay involved in online networking groups – local and national – to keep up with the changes that need to be considered when that happens.
We have improved our marketing. why?
People will need money, which means selling ownership of their employees or relatives. We want to be available when all possible assistance is needed.
Fewer investors are already buying for fear of the future and lack of funding, so there’s no better time to be on the market for years!
learn. What we have seen recently is what we saw in 2006-2007; what we saw in 2007 is what we saw in 2007. Everyone lags behind in real estate investment because it’s so easy. As businesses become more complex, there are great opportunities for those who are ready, enlightened and educated.
Buy at a cheaper price. We all know that the future is uncertain. Price costs may decrease significantly in the coming months/years. Sellers also know this, so many want to sell as soon as possible. They also understand that you take risks when you shop, so they understand when you offer less than they expect. And so, too, you take risks. Make sure that when you make an offer that this is a price you can live with if costs fall over the next 3-6 months.
Real Estate always sells well, so buying a property that can be converted quickly – now is not the time to buy a great repair!
Buy and sell almost. This is a great time to learn how to take your job virtually. We are currently carrying out due diligence online, requesting permission to tour the facility to take photos, and then asking the seller to send us a photo of the interior himself or leave the property when we enter and take photos. Sellers appreciate our interest in their luxury. We asked them to allow a tour of the property before it closed to make sure that their own photos didn’t eliminate what we needed to know.
Be prepared for longer days on the market when it comes to selling. Take a look at the local market days to get an idea of what to expect. When lenders start drying up and/or increasing their loan needs, there will be fewer qualified buyers, and sales and closures will take longer.
Expect lenders to tighten their borrowing requirements.
We have seen private lenders stop lending for fear of future risks and the need to keep their money safe for themselves.
Many lenders make it difficult for money to stop lending together, because they combine loans and sell them. These loans are no longer purchased, so these lenders no longer lend.
Banks have stopped making big loans, which means they’ve been worried and reacting.
Almost everyone who still lends has begun to claim that borrowers have more money on hand, higher credit scores and stronger applicants around. In addition, points and interest rates are rising.
The most expensive properties will be the first to slow down, so focus on properties below the average environmental price (and you know how much it costs!).
Expect this “event” to last a while – perhaps years. In 2008, the general response was that the worst was over and things would start to get better. However, things continue to deteriorate.
Remember that we are entering a “new reality” soon, and what is to come is difficult to predict. Stay informed, stay flexible, stay informed, and stay in touch with other investors. There’s always money in . Do you agree or disagree with what I share?
What changes have you made or planned in the future?