First time investor in a seller’s market!?

Question

Hey all,

I’ve been learning, studying, analyzing and going nuts over making my first deal. I’m being very careful to not fall in love with any deals or get emotional and I’ve been sticking to my criteria and so far I have barely come up with any possible investments. My area is experiencing a boom in the housing market and I’m trying to get at least one or two properties before the guaranteed increase in population coming 2 years from now. I’m afraid I may have missed the window. What would be some wisdom or advice anyone could give? Thanks in advance!

Timothée Brzozowski

Rapid City, SD

Timothee Brzozowski · Answer

Thank you for the encouragement. I have definitely been looking for connections in my area, and have reached out to several people in hopes to have a symbiotic relationship where I may add some value to the friendship!

Timothee Brzozowski · Answer

@Nik Corbaxhi, I think that is what I may end up doing, hopefully I can find something to cashflow with and get my feet off the ground to gain some capital for further investing this area and others I have been watching.

Confidence is something I have, I just get into grooves where I have a little bit of a low risk tolerance.

Thank you for your insights and advice!

Nik Corbaxhi · Answer

@Timothee Brzozowski, this might sound strange but it definitely was the foundation for me to get started. That was not being greedy and making the numbers work for an ok deal instead of a great deal, which ultimately turned out to be great after all.

The point I am trying to make is that you should analyze the numbers and of they work for you, then go for it. Waiting for the deal that you are looking for might be worth it but if you see properties selling fast, that is an indicator.

Keeping your money tied to your bank account is giving you close to nothing in interest, so that can also offset your great deal if and when it comes.

Be confident and if you have done your homework correctly, it will work out. Best of luck!

Zeke Liston · Answer

Hi @Timothee Brzozowski, I would keep searching, don't give up hope! I would also connect with some wholesalers to see if you can't get a good deal with an off-market property. Best of luck!