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Updated about 3 years ago on . Most recent reply

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18
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Russell Quealy
  • New to Real Estate
  • Weatherford, TX
4
Votes |
18
Posts

Getting discouraged with the market

Russell Quealy
  • New to Real Estate
  • Weatherford, TX
Posted

Hey Everyone!

So long story short, I'm getting discourage with the market and the price for the rehabs. I feel like after analyzing deals for almost two months the houses I get sent via wholesaler or I see on the MLS, the houses wouldn't be able to have money pulled out during the refinance or they don't cash flow very well. But the houses I'm analysing are still selling. I feel like I'm missing a step or doing something wrong in the process. PLUS after speaking with my wholesaler, he tells me that the off market properties are still going for over asking. I feel like it's not the right time but I know I need to make a move sooner than later or I never will. I wouldn't rush into something just to do it, but it seems like things aren't working well.

TLDR/

Help to analyze deals to know what's good and not. And words of advice for a noob.

Thank you all!

Most Popular Reply

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1,603
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1,704
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Michael Dumler
  • Real Estate Agent
  • Atlanta, GA
1,704
Votes |
1,603
Posts
Michael Dumler
  • Real Estate Agent
  • Atlanta, GA
Replied

@Russell Quealy with limited inventory and high demand virtually across multiple markets, investors and flippers are tightening their profit margins. If you're using the 75% ARV rule, you're going to be very frustrated analyzing deals simply because most won't pencil out. Furthermore, while I can't say for certain, I believe many individuals are purely speculating on the market and assuming housing will continue to appreciate. Continue to take your time analyzing deals and keep your connections in the pipeline. For a practical step, you may want to start going directly to the seller and see if you can acquire an off-market deal that way. Hope this helps!

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