INVENTORY! Where are you?!
I apologize in advance if I am beating a dead horse, but . . . . where is the inventory?~! And what are you doing about it?
In my local market, things have completely dried up on inventory for possible fix and flips. What is available is easily 25-33% HIGHER priced than I am comfortable with. Does this mean that I will reap the benefit of that on the backside as well? Maybe, but there are so many factors that can affect that that are out of my control.
Went to the courthouse this Monday in search of a property. My team and I had calculated our max bid to be $85k. It slowly inched it way there, and I continued to bid until about $92k. Minutes later, it sold for $122k!
Are you seeing this problem as well? What are you doing about it? Any ideas on how to be creative? I am actually thinking about purchasing land to do new houses . . .