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Updated almost 5 years ago on . Most recent reply

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Trey Bonner
  • Investor
  • Atlanta, GA
4
Votes |
25
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With so much info out there how are you filtering out the noise

Trey Bonner
  • Investor
  • Atlanta, GA
Posted

Since catching the RE bug last November, I have read 8 books (more than I've read in the past 4 years), attended local RE meet-ups & events, identified my markets (Atlanta & Memphis), started building my team in both markets, daily read both the articles and forums on biggerpocket and other sites, analysis deals daily, and have put in a few offers in both markets. But now with Covid... there is so much information and opinions out there, all of which make a green wannabe (we don't have any investment properties yet) investor like me freeze. Do folks have hard markers/indicators that they are watching to decide when there are great deals out there? Is it solely based on consistent and continuous analysis of properties in your market until you see a shift in values? Are there certain experts, businesses, gurus or local organizations that you are following as indicators of a shift? 

I recently read an article stating RedfinNow is resuming their all-cash home purchase program immediately and Zillow Offers is not far behind. Does this mean anything? It seems more likely that we won't truly understand the impact of Covid19 on real estate until after (1) mortgage forbearance periods end; (2) evictions are allowed; and (3) foreclosures are processed. All of which makes me think we should just sit on the sidelines until the dust settles. I guess we don't want to look back on all this and realize we were the "fearful" in Buffet's quote, when we should have been "greedy". 

 My wife and I are excited to jump into the game, with the hopes of showing our 3-year old twins the path to financial freedom, but we are becoming more and more cautious in an attempt to avoid stumbling out of the blocks. Instead of consuming information/data by the masses, I guess I am trying to figure out how best to filter out the noise. As things continue to unfold I find myself a lot more shy about even entertaining potential deal, not to mention pulling the trigger on one. 
 

Most Popular Reply

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3,975
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Pat L.
  • Rental Property Investor
  • Upstate, NY
3,356
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3,975
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Pat L.
  • Rental Property Investor
  • Upstate, NY
Replied

try jumping in when mtg rates are 18-19% & everyone keeps telling you that you will lose everything :)

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