All Forum Posts by: Connie Tang

Thank you, everyone! I appreciate your thoughts on this question!

Hi All,

I would like to get some thoughts on the current market and what one should do as an investor. Curious about your opinions. From what I've experienced from the past few months and from discussions with friends and realtors across the US, it's clearly a seller's market. Inventory is extremely low and buyer demand is high. It seems to be the case all around the country, but where I live in MA, it's absolute insanity. The competition is so fierce all the open houses have queues, homes are being sold within days of listing, and offers have to be made at least 10k above asking in order to have a shot. Or you need to have cold hard cash, which I have some of, but clearly not enough to have any skin in the game.

Because of the market here in Boston, I am starting to look out-of-state (within 1 hour's drive) for more opportunities, but the competition is similar. Long story short...I really want to get into real estate investing (particularly buying a multi-family as a start), but all signs point to "No, don't do it!" Even my realtor in MA is saying that homes are selling at a premium and investing now is not a good time because I would be buying at top of the market. This all makes sense and there is truth in all that, but I just don't know how long I should wait. On one hand, I don't want to be stupid and start investing at the worst time ever and buy something during a seller's market, but on the other hand, I don't want to sit by the sidelines and let potential opportunities pass me by. I've read/watched/listened to many books/webinars/podcasts and a lot of them say that you can be successful in any market as long as you can find a good deal.

In your opinion, for a first-time investor, what are your personal, honest thoughts? Due to COVID, I've spent the past year working from home and saving enough money for a down payment, so I am extremely eager and motivated to put my money to work in real estate rather than letting it sit in my bank account and stocks. I have so much momentum after educating myself in real estate investing and joining BiggerPockets and I'm so afraid to lose it. Everyone around me is telling me to wait. Are they just naysayers or are they right? I'm so torn.

Any perspectives and thoughts on this dilemma would be greatly appreciated. I would love to hear your thoughts!

Thank you,

Connie

Thank you, David! Makes sense!

Hello,

I am a newbie in real estate investing and am just beginning to search for properties to invest in. I have a question that I hope someone can help me answer. Yesterday, I got connected to a realtor via Redfin after submitting a question about a property I was interested in. She called me immediately and I liked her right off the bat. After some quick research, I realized she is the owner of her own realty group and has a lot of excellent reviews online. I was happy to have connected with her and was looking forward to discussing with her more about my investment goals. When we spoke, she said she would send me the property information I requested, but when it was sent over, it was from someone else on her team. Is this because she realized I am a newbie so she doesn't want to work with me directly? Is this something that more seasoned realtors do because they would rather focus on bigger transactions? I would rather work with her since she seems to have more knowledge and experience, but I don't want to reach out directly and dismiss the other realtor that sent me the property information. I'm trying to figure out if she passed me off or if she works as a team and is just having this person help me out because she doesn't quite have the bandwidth right now to give me her attention. Could it be possible that this person is an assistant? Not sure if this is helpful to know, but this other realtor that I've been communicating with isn't even listed in the realty website's "Meet Our Realtors" section even though this person's email signature clearly says she is a realtor at this realty group.

Any insight/personal experience you can share will be greatly appreciated! Would like to gain a better understanding of how realtors work individually and on a team.

Thank you,

Connie