Updated almost 2 years ago on . Most recent reply
Jumping into the New Year with a Goal!
Happy New Year, everyone!
It's the exciting time of year where everyone tries to redefine themself for the coming 12 months and although many people give up on their goals after little time, we as real estate investors must continue to strive to achieve ours.
Stay motivated, stay educated, stay disciplined. It's easy to lack these at times, but keep trucking.
As far as my own goals, I want to look into acquiring my second property. I began my REI journey this past year and it was not a smooth transition. I learned lots of lessons that I wish I hadn't learned while owning a property, but I am glad I had the opportunity to face them on my first transaction instead of later on in the process. For instance, knob and tube electric is a NO GO as well as electric heating.
With these lessons learned, I can further limit my buy box and move myself into more profitable and secure investments. This next year brings about many new struggles but also many new horizons. I'm excited to look into a new market that I have become interested in and make connections with people and business that can help me grow as an individual and an investor.
Going into 2024 with high hopes, the rates are lower and many foresee the continuation of lower rates. Will we hit low 5s by Q4? I'm hopeful! Lower rates means more expensive houses, so marry the price and date the rate! Let's buy while everyone is scared and let's make money while we're doing it!
Good luck to everyone in the new year and I hope everyone had a safe and happy holiday season!