Trouble Acquiring First Property

[Rajiv R.]

Started looking at properties in my area a few months back for my first investment and finding that, according to my agent, most or all are going as-is and are getting cash offers with all contingencies waived. Is this the norm all around or am I just in a very competitive market?

[Nathan Gesner]

Quote from @Rajiv R.:

Started looking at properties in my area a few months back for my first investment and finding that, according to my agent, most or all are going as-is and are getting cash offers with all contingencies waived. Is this the norm all around or am I just in a very competitive market?

Many markets are still short on inventory and flush with investors looking to pick up property. When property under $300,000 hits my market, there are still multiple offers and cash buyers. First-time home buyers and beginning investors don't stand a chance.

I still believe we haven't paid the price for all the "free" COVID money. There are a lot of people cashing out equity on their primary homes or investments because they don't realize money can shrink the same way it grows. I'm still anticipating markets will slow down.