This year… or… “oh my god there’s no inventory “ last year….. 3.

Here's the latest market report (based on single family homes):🏡 Mortgage Rates:30-year conventional rate today is 6.72%30-year VA rate today is 6.15%——————————————————————————————————💰 Median Sales Price:Sept: $490,000Oct: $485,000Nov: $484,995——————————————————————————————————📈 New Listings:Sept: 1,910Oct: 1,959Nov: 1,481——————————————————————————————————📅 Median Days on Market Until Sale:Sept: 20Oct: 22Nov: 24——————————————————————————————————📦 Months Supply of Inventory:Sept: 3.3Oct: 3.3Nov: 3.0🤔 What does "Months Supply of Inventory" mean?

In multifamily here in Reno, NV (just over the hill), we have seen some great deals with higher cap rates for buyers, but also very low cap rates on some renovated, turn key inventory. 

The issue we had is that over time, our sheets get mixed up with other customers' (cheaper) sheets, and we ultimately end up with an inventory of sheets that are not ours.

I've done multiple BRRRRs myself and tend to find the best opportunities in C, C+, and B- neighborhoods where the inventory of distressed homes is still there. 

many houses in the midwest, for example, are very old and need major rehabs.i personally think out of state investing is more difficult than advertised, and much more difficult in the current investing environment, with: prices high; interest rates high; tremendous demand for inventory, by both investors and retail buyers; and good PMs, contractors, etc. booked up.here's a really thoughtful thread with the experience of another CA investor and lots of different responses:https://www.biggerpockets.com/forums/12/topics/1215726-break...and here are some threads about how it can very easily go wrong:https://www.biggerpockets.com/forums/48/topics/1159104-overl...https://www.biggerpockets.com/forums/963/topics/1195280-expe...https://www.biggerpockets.com/forums/48/topics/1160450-run-i...https://www.biggerpockets.com/forums/48/topics/1137397-balti...finally, you also said you "don't have a lot of money to start with." 

Inventory has held steady at around 5-6 months for some time now, with roughly 4% more active listings on the market in the metro now compared to November last year.

(Sidenote, cattle inventory in the US is at an all-time low and now we are shutting down imports from the south because of a parasite "new world screwworm") - so I guess my steaks are going to go up no matter what. 

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https://www.har.com/content/department/mlsHouston Real Estate Highlights in November, 2024:-Single-family home sales increased 6.0 percent year-over-year;-Days on Market (DOM) for single-family homes went from 48 to 52 days;-Total property sales were up 3.3 percent with 7,750 units sold;-Total dollar volume rose 11.1 percent to $3.1 billion;-The single-family median price was up 1.5 percent to $329,900;-The single-family average price climbed 4.1 percent to $418,903; -Single-family home months of inventory registered a 4.4-months supply, up from 3.5 months last November.