Tips for buying in a hot market?
2 Replies
Collin Bryston Adams
Rental Property Investor from Dallas, TX (dallas texas)
posted 2 months ago
In this hot Dallas-Fort Worth area it seems impossible to find a deal. Even offering cash on over the asking price on houses and multi family.
Everything is under contract in one day and going for way over price especially to rent out.
Any tips?
Caleb Brown
Real Estate Agent
replied 2 months ago
Just keep offering, try higher EMD, quick closes, as is, and favorable terms. You should also hunt for off market ones. Since you are cash you can do deals with wholesalers or just find owners that want to sell.
Dan Weber
Realtor from Portland, ME
replied 2 months ago
I would turn your search to off market properties. Spend some money on marketing to those off market opportunities. If you decide to stick with MLS options, higher EMD and no inspections should be helpful. If it's not, then let someone else overpay. You could also switch asset classes, zig when everyone zags. Maybe look into commercial properties (preferably not office right now), self storage, etc...