Being Patient is so Hard

[Anthony Dooley]

After such a long, slow economic recovery the good news is that unemployment is the lowest in my lifetime, home prices have recovered and even skyrocketed depending on where you live. Wages are increasing, along with interest rates. Lending is back in style and not only banks, but private money lenders are marketing their wares with a vengeance. The bad news is that it is harder to find great deals and the ones you find are OK, but nothing to brag about. I love the game and it is very difficult to shop and not buy. It takes a level of discipline not to be the winning bid on a property, but if the numbers don't work you have to walk away. There are tons of new investors jumping into the business with high expectations, but they are late to the party. Although I told my wife that we would not buy anything this year, I still shop everyday and we have purchased 7 properties to hold as rentals so far this year. Sometimes I feel like maybe I have a real estate problem. I am glad the economy is doing well, but to be honest, I can hardly wait until the next big dip.