Have you hit your investing goals so far in 2024? Why or why not? Let's talk about it

[Jonathan Greene]

Let's talk 2024. Have you hit your goals or exceeded them, or are interest rates and low inventory holding you back?

Tell us your goals, where you are at, and why. Get some advice or encouragement from others in the same boat.

I am behind on my 2024 goals. They were pretty light.

1. Invest in my first syndication (done)

2. Find a new flip with at least a 200k margin (impossible in NJ right now)

3. Buy a commercial mixed-use property downtown on Main Street with room to put my business on one side. (see below)

My last three commercial deals in my town and a nearby town have all failed because the sellers are insane. It's a terrible time to be an insane commercial seller because the rates are so bad. The last two are either off the market, unsold, or back on the market.

What about you?

[David Krulac]

@Jonathan Greene  I'm selling older properties, one recent sale was built in 1890 for example, selling all townhouses, all semi-detached, all rental condos, vacant lots (no income), and most multi-family properties.  I am buying newer properties, built since 2000, so I'm moving up more than a century.  All properties are 3 br, more than 2 baths, central air, and garages most 2 car.  And all the new ones are bought with 1031 money and professionally managed by someone other than me.  So buying newer, better properties, with more amenities, and reducing my workload.  After buying and selling over 1,000 properties for my own inventory, its time to do less work and let others carry the load.  Some investor took me to lunch today, and I told him almost all the recent sales were made to owner occupants.  I've done some localized studies and the numbers of owner occupied buyers versus investor buyers in several of my current markets are 10 to1 ratio and as high as 25 to 1.  Which means that there are many times more owner occupant buyers than investor buyers and owner occupants buy based on comps, whereas investors buy based on cash flow.  The owner occupant buyers don't know what the cash flow might be and don't care.  It an arbitrage as I buy based on cash flow, rent the property out and years later when I go to sell I'm selling based on comps, which are higher and not cash flow.  Sure you can sell a 2 unit or a 4 unit to an owner occupant, but most of the investment sales that I see in my areas are not owner occupants.  My investors don't want to live with their tenants and be constantly available for questions, complaints and service 24/7.