Are people finding it harder to find deals these days?

[Adriaan Sierra]

Just wondering how y'all still managing to find good deals out there. I've had a strong focus on West Cleveland, with an appreciation component on my play (e.g. Lakewood) and the last quarter we only close on one property. This is the lowest number we had since we started. 

All of the available inventory is way outside our buy box, and I recently saw a MF sold for twice what our highest bid would have been.  Most of the deals that are currently available for MF on the regions where I buy would have you at negative cashflow. Last year, we were aiming for a 10% cash on cash at a minimum. 

All to say, who are the crazy people that are buying at these prices / rates !?  I cannot understand most of the current buys unless you plan to house hack or something like that. 

Just curious if you are seeing the same pattern. 

[James Wise]

Quote from @Adriaan Sierra:

Just wondering how y'all still managing to find good deals out there. I've had a strong focus on West Cleveland, with an appreciation component on my play (e.g. Lakewood) and the last quarter we only close on one property. This is the lowest number we had since we started. 

All of the available inventory is way outside our buy box, and I recently saw a MF sold for twice what our highest bid would have been.  Most of the deals that are currently available for MF on the regions where I buy would have you at negative cashflow. Last year, we were aiming for a 10% cash on cash at a minimum. 

All to say, who are the crazy people that are buying at these prices / rates !?  I cannot understand most of the current buys unless you plan to house hack or something like that. 

Just curious if you are seeing the same pattern. 

 market goes up, market goes down. Buy low and sell high playa.