- This topic has 1 reply, 2 voices, and was last updated 1 year, 10 months ago by
.
-
Posts
-
-
Hi everyone,
I’m new and learning all I can on real estate and Tom’s methods. I live in a very popular tourist area where the home values went from the average of 250K to at least 400K and above over the last 2 years. I understand finding a property 20-35% undervalue, but compared to now or pre 2020? I feel the current values are very artificial and we’re heading toward a very big downturn, and that’s without the Fed raising rates more which we know they will be. So for right now I’m just stacking cash and learning, but when it comes time to decide price if asked, I feel the offer my gut tells me to make would be a pretty insulting offer to the seller at these current price levels if I go by property values of 2 years ago. Sorry if this is a repeat topic on the forum but this has been on my mind a while and wanted to put it out there. Thanks everyone! Dan
-
Daniel,
Most everyone has that concern of offering less than it’s worth. You’ll see as you get deeper in to class. But remember the chapter in book let the seller make the offer. Often times you’ll be agreeing to 35% under market or close.
Good idea stacking cash but always be shopping and staying aware of values.
Tom
-
- You must be logged in to reply to this topic.