Spikes And Dips Scare Weak Investors
Everyone can look back in history and plot on a chart the times they should have purchased and sold real estate. How often does someone say to you "I should have purchased that property in 19xx. It would be worth so much now". Of course hindsight is 20/20 and no one can actually predict the market. We can take a very educated guess as to where things are going, but no one truly knows. The market is designed to scare out weak hands. This means that when something happens that quickly spikes or tanks the market, the people that have a knee jerk reaction to buy or sell tend to be people that don't last long in the real estate market. It is important to know a few things very clearly when buying a property. You need to determine if your exit strategy is to buy/hold or fix and flip. You also need to make sure that you are buying at such a low price that market dip or spike wouldn't tempt you to make a bad decision. Panic is for weak hands in the market. Smart money doesn't panic or make reaction based decisions. Buy right and execute on the strategy you set out to accomplish and the market won't phase you.
Ian Walsh
215.839.3271
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