Posted by Mark (SDCA) on April 11, 2000 at 13:55:21:
Yes… San Diego is going berserk too… Not on the same scale as SF but its still bad. Here is what I advise…
Going through the MLS is almost useless… As you have seen… Sellers get multiple offers at or above asking price. You have to dig harder.
Find boarded up properties. Properties with overgrown yards. Go to the outlying counties. (Here deals can be had in Riverside or San Bernadino counties). You have to get to the seller before it is listed.
My husband and I are always talking about how we want rental properties, but when we look around (we live in the San Francisco Bay Area) all we see are overpriced properties that are getting nearly double digit offers before they’re even on mls! The last thing we want to do is get caught up in this buying mania. Is there anyone out there who has been dealing with this psyche out problem?
Re: Paralyzed in a hot market - how to get beyond it? - Posted by Bill K. - FL
Posted by Bill K. - FL on April 11, 2000 at 14:51:33:
I advise going against the market. Buy when others sell, sell when others buy. If you are looking to buy, look for those others don’t want or don’t know about.
I would only buy rental property with the intention of reselling. Too much of a headache just to hold on to. Always make your profit when you buy. Know what you are going to do to the property and with the property. You’ll do much better this way than just buying and holding. (Speaking from experience)
Maybe try Joe Kaiser’s method of going after “tired landlords” who are currently in the process of evicting bad tenants. His Ultimate Lease Option course is a must have!