Where do motivated buyers come from?

[Nick B.]

Hello BP!

Everyone knows a term "motivated seller" and a certain images may pop up in one's mind when that term is heard. But about buyers? It looks like there are plenty of those came around in the last few years and they are pushing prices higher and higher.

So, what does a "motivated buyer" look like and what motivates them to go on a bidding war, pay the highest price, grossly overpay, and potentially lose money when the market turns?

To add a bit of clarity, I am referring to non-institutional buyers of 50+ units apartment complexes.

Thank you
Nick