Updated over 7 years ago on . Most recent reply
Fort Wayne general area
Is it just me or is it becoming very difficult to find good deals in the Fort Wayne area that comes with a decent cap rate? Most of the things I keep running into are below 5%. Advice anyone? Is it time to explore other cities or am I missing something?
Most Popular Reply
It is definitely harder to find deals. It's not just your imagination. My realtor put a flip house up and within hours, it had 8 showings scheduled and by the end of 24 hours, had an above list price offer. They held an open house a few days later because it was already scheduled and had over 30 potential buyers come through. She said that there are realtors who've been in the business for 30+ years who say that they've never seen the market like this. Houses I bought for $20,000 in 2011 would sell for $35,000+ right now. If you have houses to sell, now is a good time but not so much the other way around. Time to diversify!!