Investor · Midlothian, VA · Member since 2015 · 305 posts · 199 votes
I am seeing a lot of people jump in and out of the market. Why do you think that is? There have always been a lot of "part time" investors; people who do deals now and again. Maybe a flip a year? One or two wholesale properties every 6-10 months? Do you think it is because people are too scared to make the jump? Or are they not finding the success they want? Perhaps they find it too challenging but at the same time, they don't want to totally give up? I would like to see the people in the business be more committed and full time. I think it would raise the professionalism level in the industry. Thoughts?
Everybody and their brother "wants to be in real estate" now. Especially flipping. I suspect a lot of it is due to popular TV shows. They get in and out of real estate because they find out they don't know what they are doing and have a difficult time.
@Account Closed I was a part time investor.. different reasons:
I had to keep a day job for loans and credit score, I needed the income to keep flips going ( holding costs etc) I had dishonest people on my team which had more financial implications. With a f/t job was harder to manage more than one flip at a time.. a vicious cycle I guess! I stayed involved with the RE community and networking with others during each single flip but didn't make the jump so to say for that reason.. Just my experiences.
I am not sure I've noticed the same @Account Closedone way or the other. In terms of timeframes, are you referring to the last 3 to 6 months or years +? In general, on the long term, I dont see the reason for in and out. In the Richmomd area, there's been good appreciation since 2012 in many areas
Everybody and their brother "wants to be in real estate" now. Especially flipping. I suspect a lot of it is due to popular TV shows. They get in and out of real estate because they find out they don't know what they are doing and have a difficult time.
It's like the casual friend of ours who wanted to learn flipping so he could make money to supplement his retirement. Partnered with me against my wife's advice & bailed after 2-3months into the demo & rehab start. Several things he started had to be redone as per bldg inspector so he got o/whelmed. NEVER AGAIN!!!
@Pat L. Pat - sorry for the bad experience. We are a full fledged company and I am looking into expanding our real estate realm into upstate area ( we mainly do Texas and Long Island) I would love to connect. We are a full service interior design firm and home rehab company. I noticed you are in upstate. Let’s connect and learn more.
@Alex Forest I agree with you about the Richmond market. I have long thought it was good for the long term and apparently now it is good for the short term too.