Seeking advice on buying in a hot market
Does anyone have advice on buying in a hot market?
Tucson and other areas of the country are very hot where multiple cash offers and selling prices are 98% of asking price. Do the rules of thumb still apply (70% rule for flips, 50% for buy, hold, rent) Thanks in advance for any comments
Most Popular Reply
Thanks Brandon Turner! I have two words for you Terry Mccasland: DIRECT MAIL!
In a hot market, you have to source your own deals. Find a farm area and market, market and market. You might have to spend 3-6K before landing a deal, but it at least you going to be taking action instead of getting priced out of the market.
AG