Updated over 10 years ago on . Most recent reply
Could this be a sign of a bad market?
I am considering starting out in my local neighborhood because there are a lot of Pre-foreclosures and houses for sale in my area. With that being said could this be a sign of a bad market to invest in? I kinda have an idea of things I should consider but could use a little help. Thanks in advance for any advice!
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A large number of homes listed for an extended period of time could be an indication but you need to dig farther. Search for or check with a real estate agent to see how the current market/inventory compares to past performance. Also, do some research on the population change in the area. If the population has been decreasing for several years, there will be less people to buy your flips or lease your rentals.
I think it is easiest to start investing in the area where you live but if if the numbers don't work, you need to find someplace that does.