Tough market? Try something new.

My target market is one of the fastest-growing markets in the country, so it's no surprise that the prices have become insane for rentals. By insane I mean literally not sane to buy any listed property with the intent of renting it. While I do expect rents to catch up with the market at some point, today is not that day.

Even with rents increasing over 20% in 2020-2021, the retail price of SFR and MFR properties has doubled. Reaching the 1% rule is not happening. Even hitting the 0.8% guideline suggested by Papasan/Keller is a dream. The market is flooded with wholesalers asking retail prices for trashed homes and unrealistic ARVs.

Let me reset -- this is not a rant about how hard it is to invest right now. I'm sure many of you can relate to what I'm saying here. Others may say that I'm not using all the tools available for finding great deals, and you're probably right. But I'm not here to complain.

When the market doesn't follow what we have planned, the only option is to adapt. You see, the market doesn't care about your business plan, your roadmap, your goals, or your vision board. You don't create the market. The market creates opportunities for you and it's up to you to see them.

What am I doing? What should you do? Well, if what you're doing isn't working then the answer is simple: do something else! Don't keep scouring emails from Redfin and Zillow in hopes of finding a hidden gem in a market that's going nuts. This only results in discouragement and depression. Seriously.

So, change something. Maybe change something big. Hit up some new markets. If long-term rental prices aren't going to work, look at doing short-term rentals. If buy-and-hold isn't possible, try flipping for the next year. If there's too much residential competition, try commercial. If local or state regulations are getting too restrictive, build a team somewhere else.

Trying the same thing that has been failing doesn't make sense. Try something new. If trying something new is scary, remember this: growth only occurs outside the comfort zone. If you never leave your comfort zone you will never improve.

The Marine Corps trains people to improvise, adapt, and overcome in the most stressful and crucial moments. As investors in an ever-changing environment, we must do the same if we are to survive, thrive, and succeed.

Scouring active listings, driving for dollars, and going through wholesaler emails might be too familiar for you. Try something different and intimidating, whether big or small. Take action. New action. Different action. Scary action. Then reap the rewards that are only attained by a dynamic, dauntless, and determined investor.