Written by David Lowrey, Owner of Stress Free Property Management
I don’t know about you, but hot real estate markets are boring. It’s great when you want to sell a property, but horrible when you want to buy. As the owner of a Tampa property management company
The challenge is the normal, smaller investors tends to want to invest in real estate market because it is hot. They see their friends making money flipping properties or watch the countless show on TV about flipping your way to millions.
During my career in property management in Tampa, I’ve noticed that when people start getting hyper interested in real estate is when a recession is soon to follow. The challenge is just sitting on the sideline “sucking your thumbs.” That’s hard…really hard!
Warren Buffett once said, “You do things when the opportunities come along. I’ve had periods in my life when I’ve had a bundle of ideas come along, and I’ve had long dry spells. If I get an idea next week, I’ll do something. If not, I won’t do a damn thing.”
I get calls all the time from potential investors wanting to buy real estate, right now. There is a human tendency to feel like good times are just going to last and last, and the same things goes for recessions. People want to put their money to work now before they miss out on the opportunities. I’ve finally stop advising potential clients on the phone not to buy, because they really don’t want to hear it.