What does this Market Feel Like?

Hello Bigger Pocket Family

I have been absent for too long and I feel it is time to get back at it as my day job or work is finally coming down to only 60 hour weeks verse the near 100 I seemed to be averaging the last year or so.  Like most of you I have a day job and thankfully it is one I love or who knows what would have happened over the last 18 months as I was burning the candle at both ends.

Anyways back to posting my thoughts, deals and activities on real estate as after 15 years it is clear that Real Estate Investing and Specifically Buy and Hold Real Estate Investing is what is going to set me free to enjoy my glory years whenever I decide enough is enough.

So in todays post I wanted to tackle a question I got yesterday and it really got me thinking.

Question:

"Michael you have been doing this for 15 years and it is clear we are off the bottom so what year does this feel like in your experience?"

Answer:

Some of you old timers know I am not often at a loss for words (see my session from the Biggerpockets inaugural event 2012)  but that question caused me to step back and pause.  Just so we are clear what I am about to say is 100% based on my experience in Fresno, California and has zero to do with other markets as I don't have experience their and thus feel free to disregard my thoughts if you don't like them.

When I got to thinking about it I had to tell my mentee that it feels like the year we started 15 years ago.

Let me explain.

Prices were rising but at a single digit pace so nothing crazy like 2006.

Lending was tight but getting looser every quarter.  My first loan 15 years ago was tough but fair like today for most new investors.

Supply of homes was sub 6 months with no clear trend either way.

New building was happening but very sporadic

Lastly people were starting to question the value of renting verse owning a home or living with roommates or mom and pop after college.

After 24 hours of thinking about this question I still believe this is true and if I am right we have at least 5 more years of goodness a head of us as we are still healing from the sins of our past in some parts of the country.

In the end the market feels stable, healthy and improving.  If you want to see what an unhealthy market looks like go to my site at wealthbuildingpro.com and read some of those deal write ups.  Those were crazy times and yes I wish I bought more but alas I am very happy with what we secured and are now building on for the next cycle.

Keep Learning, Keep Researching and Good Investing

Z