If a house has been on the market for a year, is that a red flag? Does it mean that other more experienced investors knew it wasn’t a good deal and that’s why no one has snatched it up? I tried to do a deal analysis, and my numbers keep coming back so good that I’m worried about why it’s still available.
In my Biggerpockets teachings, I'm told you should be either the first or last to offer on a property. It's possible all the big time investors have moved on. But yes, there could be a more serious underlying issue. Hidden water damage, foundation issues, asbestos, something that would turn a great deal into a nightmare.
Could be a problem that the bigger, more experienced, high volume investors don’t want to deal with. Doesn’t mean you shouldn’t look into and proceed if the numbers work. The fact that it’s been on the market for a year could be a blessing in disguise. Do your Due diligence, get creative, crunch numbers over and over. Good luck.
Overpriced and once it hits a long time frame its old inventory and it just gets ignored. Agents wont show an old inventory they do not want to waste their time with issues, they just want to be paid.
So I love old inventory, ripe for a price reduction and at that time the seller is ready or just really stubborn. Make a low offer never know!