What do you do when you can't find a deal?

With $1 trillion of debt coming due in the next year, there is an opportunity for those who are prepared. To take advantage of this opportunity, I suggest studying and learning during this season to make the most of your time. Begin by studying the areas where you want to invest or buy a home. Over 65% of homeowners refinanced their home at 3.5% or below, with 85% refinancing under 4%. Given that and a reduction of building permits by 32%, it is unlikely that we will see a huge supply of homes coming to the market or a reduction in prices. Regardless of the investment vehicle you are pursuing, you won't know what a good deal looks like unless you've been studying the market.

Here are some steps to get started educating yourself:

1. Set up a search on various real estate sites to receive alerts when a property hits the market. Some of my best deals were found by checking these alerts first thing in the morning. Knowing a particular area allowed me to quickly determine whether a deal would cash flow when something came on the market.
2. Determine your own personal search criteria. What type of class and vintage properties are you considering? Do you prefer turn-key options or is value-add important to you?
3. Will you be self-managing or hiring a property management company? If you intend to hire it out, start developing relationships now with different companies and ask others for reviews. A referral by someone already using them is the greatest way to determine if they're a good fit for you.
4. Consider hiring a coach or mentor in this field. It is one of the best uses of your investment dollars to ensure that you do not make unnecessary mistakes, which we like to refer to as "seminars".

In summary, I believe that the best time to invest in educating yourself is during periods of slow market activity and changing conditions. During these times, you can take the opportunity to develop new skills, explore alternative investment strategies, and broaden your knowledge base. Additionally, it's important to stay connected with like-minded individuals in the industry to keep up-to-date on new developments and gain valuable insight. If you would like to connect further, please don't hesitate to reach out. We can discuss your goals and explore ways to enhance your investment knowledge and capabilities.