The economy is not healthy AT ALL

[Adam Macias]

The economy is not healthy ya'll.

House prices are coming down.

Look at Texas and Florida, two years everyone though these states would have infinite growth.

What has happened?

Florida is down almost 15% and Texas is following the same path.

I bring this up because at a recent meetup some investors

were telling me they are willing to pay full price to beat the competition.

That's an insanely bad move right now unless you're willing to come out of pocket to cover expenses to try to keep those houses afloat.

Stop speculation for the love of the real estate gods STOP.

The only time you lose money in a real estate crash is when you sell in bad timing...

BUT you must remember that deals are only deals depending on how they were BOUGHT, not how they were SOLD.

Heck, even in Denver the smartest investors I know are buying at even deeper discounts because they know DOM are going to be longer than expected.

Get better at sales, get better at marketing, don't be romantic on any one market and we will survive.

[Mike Kirby]

Quote from @Adam Macias:

The economy is not healthy ya'll.

House prices are coming down.

Look at Texas and Florida, two years everyone though these states would have infinite growth.

What has happened?

Florida is down almost 15% and Texas is following the same path.

I bring this up because at a recent meetup some investors

were telling me they are willing to pay full price to beat the competition.

That's an insanely bad move right now unless you're willing to come out of pocket to cover expenses to try to keep those houses afloat.

Stop speculation for the love of the real estate gods STOP.

The only time you lose money in a real estate crash is when you sell in bad timing...

BUT you must remember that deals are only deals depending on how they were BOUGHT, not how they were SOLD.

Heck, even in Denver the smartest investors I know are buying at even deeper discounts because they know DOM are going to be longer than expected.

Get better at sales, get better at marketing, don't be romantic on any one market and we will survive.

Anyone that says Texas isn’t growing doesn’t live here. Things haven’t stopped growing since I moved here in 1982. I’ll agree some house prices are going down a little but that’s only because of all the new apartments and houses being built.