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Greedy when others are fearful
I have been reading lately about high interest rates, high prices, low inventory, too much competition, no cash flow, etc. But I think right now is the time to be ‘greedy while others are fearful’ I am still finding deals, it may be harder but it is definitely possible, does anyone else feel the same?
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Quote from @Shane Dreffs:
I have been reading lately about high interest rates, high prices, low inventory, too much competition, no cash flow, etc. But I think right now is the time to be ‘greedy while others are fearful’ I am still finding deals, it may be harder but it is definitely possible, does anyone else feel the same?
Hey Shane, couldn't agree with you more. It's not just going to fall on someone's lap in times like these.
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That's a cute phrase until you have to write a check. It's scary, money is real, and you have to run your own race based on your circumstances and finances.
I'm a fan of the consistent, not checking which way the wind is blowing, dollar cost average investor that keeps buying every year or two. Good or bad timing is too hard to figure out. Nobody knows what's going to happen rates, prices, inventory in the next 6-18 months. It's best to keep your head down and look up in 10 years to see how it turned out.
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People are always fearful. Prices are too high so I can't buy. Prices are too low so they're dropping more so I can't buy. Rates are too high so it's too expensive to buy. Rates are too low so there's too much competition so I can't but.
I'm 21 years into my real estate journey, and after 2 decades I know multiple people who have found an excuse not to buy year after year after year.
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Quote from @Travis Timmons:
That's a cute phrase until you have to write a check. It's scary, money is real, and you have to run your own race based on your circumstances and finances.
I'm a fan of the consistent, not checking which way the wind is blowing, dollar cost average investor that keeps buying every year or two. Good or bad timing is too hard to figure out. Nobody knows what's going to happen rates, prices, inventory in the next 6-18 months. It's best to keep your head down and look up in 10 years to see how it turned out.
Yes, I agree, but any investing is risky so you have to be smart and mitigate the risk. The phrase does have a subtle meaning behind it, there are too many people with more money than common sense. So they chase the next big shiny thing. Then supply and demand begins to happen, when the masses begin to think it’s too hard and go chase the new thing, supply and demand happens again. I like to use data, coming from an engineering background, and I see the data and trends over history, this can be used as a guide only to help with investment decisions (it’s not a guarantee but another tool to use).