“The darkest hour in any man’s life is when he sits down to plan how to get money without earning it.” – Horace Greeley
You may wonder where we are going with this, but this quote actually is quite relevant to our local real estate market these days. Gone are the times when investors could simply tie up properties and flip them prior to closing for jaw dropping profits no matter what the qualities of the properties were or the price they were paying. There is still significant money to be made in today’s real estate market, but that money is going to truly have to be “earned”. The players we are seeing investing today are either sophisticated investors that posses a tremendous amount of experience in real estate investment or cash investors with staying power choosing to partner with full time real estate professionals they can trust that eat, sleep, and breathe this market to place their money for them. Both of these groups are going to do extremely well over the long run, but they are going to have to “earn” their returns by being selective, patient, and being willing to accept the associated risk that comes along with any investment.
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