🏡100+ real estate transactions as a buyer,seller, or agent 👋Helping Buyers & Sellers since 2015 📍Hershey, PA 🦁PSU Grad 🍔Grill Master 👫Family Man
Hershey, PA
Joined March 2019
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Spent some rare and valued one on one time with my grandpa ("Papa") yesterday.
He was a lifelong farmer (literally was born in the farmhouse, still lives there) and has a HS education.
I usually always leave these visits with some new knowledge of family history and life advice.
Keep in mind he knows very little about interest rates, the economy, supply & demand, etc.
Before I left, he asked how the real estate business is going. I gave a vague answer along the lines of "busy, but it's been a rough year"
Papa knowingly smiled. "We had many rough years on the farm. Expenses were high and selling prices were low. Every day I'd open the barn door in the morning knowing that it was losing me money. But I knew times would change eventually; they always did. Prices would come up and expenses would come down. So you know what I did?"
"Every day, keep opening the barn door and get to work. And hold on for dear life"
When you're flipping a house it's better to buy a below average house and make it average vs. buy an average house and make it the best house on the block.
I said what I said.
Update: I was correct. I called her this morning and she is under contract with a competitor.
Seller submitted web inquiry at 9 AM. I spoke to her at 9:30 AM. She had already spoken to at least one other competitor. Made appointment to see the house at 2 PM.
She sends this at 10:57. I kind of don't believe her. What's the move here?
One candidate wants to control interest rates as president
The other candidate wants to set price controls
The free market was so 2019
Walked a wholesaler's deal today
ARV $200k, asking $126k
Needed over $70k in rehab. I told him I'd need it for under $100k to break even on a flip.
Obviously, I'm not buying it.
Someone will buy it and lose money.
This is the state of my market, in a nutshell.
From Jan 1 through July 31, I profited (cash flowed):
$43k from the rental portfolio
$43k from transactions (listings, flips, and wholesaling)
95% of my time was spent on one of these things.
5 Things Affecting Real Estate in the Near Future:
- High Interest Rates
- Low Inventory
- Presidential race
- Looming recession (?)
- NAR rule changes
When you know what you're doing it's very common to get this type of private money on every deal.
I joke now that I no longer bring money to closings when I buy, I usually walk out with a check 😂😅
Just got cold called by a home inspector, looking for business.
It is SLOW guys. Anyone whose income is tied directly to transactions is HURTING
Kyle McCorkel, Realtor retweeted
I never understood the “lowball offer” stigma. Sellers say that word with such disgust.
What’s the big deal? I’m offering to buy something from you at a price that works for ME. You’ve just found out some information, and you can simply say no.
Last night at 9 PM: under contract to sell a flip
This morning at 10 AM: buyer's agent calls, buyers are now getting divorced and backing out of the deal
Does anybody else wish they had a GTFO guy?
Job description: Guy who gets squatters/tenants/sellers to GTFO. Must be highly skilled in utilizing both the carrot and the stick.
See this Instagram video by @betterdialkylepa instagram.com/reel/C9koijpPt…
I am indeed back on X, after a nearly 5 month hiatus. But apparently 50% of you don't know who the f*$k I am, so here's a re-introduction:
- Buy and hold RE investor
- 100+ transactions as buyer, seller, wholesaler, or realtor
- Hershey, PA
- Dad of the Year/Grill Master