Seasoned Investor adding my 2 cents
I totally relate to so many of your comments - been through all of the confusion, fears and analysis paralysis. 15 years after acquiring my first property, I am still learning. It is never ending - for every investor. I went full time into investing at the end of 2016 without knowing a fraction of what I know today. I thought that some may find this little insight helpful.
This video was filmed in June 2023 when I was at one of my Philly properties to inspect after a deep clean. The vibe on the block was one of excitement. Neighbors were gathered to watch the cement truck pour two foundations for new construction of two single family homes. It was exciting to see what we expected to happen back when we bought the property, actually happen. Admittedly, we thought it was going to happen sooner when we purchased but we did not account for a pandemic so there is that!
Buying distressed properties is not the only way to invest. And if you do, you need to understand what you are doing and what the real potential is. You need to have the ability to know if you are truly buying UNDER the market value and not fall into the trap of underestimating how much work needs to be done to the property, for example.
If you walk around the neighborhood where this video is made, you would have to look hard to see the signs of change, many of which are not visible. By the time you SEE the change, it might be too late. By the time there is a Whole Foods or Starbucks – those distressed properties that you may see and think you could grab on the cheap are going to be priced accordingly. The market is very smart these days. So you need to have the ability to make smart decisions based on a lot of data, facts and trends. Enjoy. Feel free to reach out.
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@Sheryl Sitman great post, loved your video!