If a market crash is impending, is it a wise move to buy real estate right now? This is a commonly-asked question lately, and I’m happy to answer it on this Q&A episode!
On today’s show, I’m taking three of your questions on the right time to buy real estate, utilizing the equity in multiple rental properties, and how to screen calls on a real estate listing. Click play to hear my answers to your real estate questions!
On this episode you’ll learn:
- What to consider about the real estate market before you invest.
- How to mobilize the equity in multiple rental properties.
- Ways to field phone calls on a for-sale-by-owner listing.
What to Consider About the Real Estate Market Before You Invest
It’s true that real estate prices may decline soon. But does that mean it’s a bad time to invest in real estate? I don’t think so. The market ebbs and flows. It’s always a good time to buy an asset that you can add to your net worth column.
In the rental sector, there’s an incredible demand for housing. While you might see home values dip slightly, it shouldn’t impact your cash flow or net worth. It’s more important to consider whether the numbers make sense on the deal you’re evaluating.
Additionally, I want you to remember that there’s no such thing as ONE real estate market. When you read headlines on the mainstream news, they’re intended for the retail market. If you’ve done your due diligence and are investing in markets with strong job growth and population growth, I believe it’s always a good time to buy real estate.
How to Mobilize the Equity in Multiple Rental Properties
There are a few different methods you can use to utilize the equity in multiple rental properties. You can look into portfolio loans and cross-collateral loans. Just know that many lenders are tightening their belts in this economy. Keep looking and I’m sure you can find a lender who is willing to help you reach your goals. I don’t personally know of any cross-collateral lenders, but I can always recommend my friend Dan Kraus at Churchill Mortgage who is an expert on creative financing for investors.
Ways to Field Phone Calls on a For-Sale-By-Owner Listing
I would be very clear in a listing in order to (hopefully!) avoid wasting your time. Consider revising your listing to include “cash buyers only” and “serious buyers only.” From there, I would screen your voicemails and touch base with a handful of prospective buyers, and ask them to deliver their offer within a week.
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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