Strategy for acquisition in current market
I was watching the "90-day challenge" webinar and David was saying that it's not necessary to "buy the dip". I understand the rationale for this. But, how do you deal with the potential for the equity in the property to evaporate in a down market? Seems like it would be a bad situation to be in the middle of a BRRRR project when home prices drop off significantly. If you're into a project with some hard money and you can't get the valuations to refinance successfully, you're going to be paying a lot in interest. The only thing I can figure is that you have to buy the property cheap enough to have some built-in equity