Heading into the final quarter of 2013 is hard to believe.
What is something you learned this year?
Did you learn about the market?
Learn about specific types of investing?
Heading in the final chunk of the year, we can all help each other if we share something we learned.
For me, I learned that high levels of foreclosures can quickly become low levels of foreclosures which forces changes in marketing. The past few years we could buy houses like buying a steak at Outback. Just go the MLS (same as menu at Outback) and pick the house you want to buy. Today’s menu has many less choices and the best deals get multiple offers and bidding wars among investors.
Real estate markets are local and what is going on in one market is not the same in all markets.
I think that hard assets including real estate are the investments for the pre-inflationary times that seem to be in the future. I think that it is a good time to load up on real estate. (But I always think its a good time to buy real estate, but now is just a little bit better. And I’ve put my money where my mouth is by buying 15 properties in the last 12 days.)
I learned that I was not nearly aggressive enough in 2010-2012. I learned that quality trumps yield. We acquired several properties over the past few years with solid yields. While prices have increased for these houses … it pales in comparison to the price increases in the highest quality neighborhoods, though at lower rent dividends.
I learned how to complete a 1031 tax deferred exchange - simple simon!
David, excuse me for my nosy interest, did you buy these properties through the notes or just picking them up from MLS? Just wish to see where the trend is.