Find out in this episode if there will be a Black Friday sale for real estate.
Kevin Daisey (00:01):
Well, there will be a black Friday sale for real estate. What’s up everybody. It’s Kevin Daisey here. So not here to give you a solution or an answer or a prediction. But obviously we’re in a recession. Interest rates are through the roof. The housing market has slowed down. Prices are still up, but they’re not gonna continue to, to raise as much as they have been. So question is, will there be a setback or a black Friday or foreclosures coming because we are in recession. And that is the question, right? So I’ve gone to a couple different sources, read some articles, Forbes Dave Ramsey, and, and some other places to kind of see what they’re thinking. Most folks say that they believe the house of market will be strong throughout the rest of the year, probably next year as well, but will slow <affirmative>, but we’ll slow down as far as the home value increases.
Kevin Daisey (01:04):
So from what I see, prices will, will kind of stay steady. But what we’ll probably not see is quite the craziness with multiple bids, cash offers, site unseen, no inspections, maybe that will come down. So for me, I’ve been waiting to buy somewhere real estate and every time I try to or go put an offer, there’s multiple cash offers the day it list site unseen, no inspections. And I’m just not interested in doing that. So I don’t want to be rushed. I don’t, I wanna have a little bit of time to do some research on the property and feel like I’m getting not maybe a deal, but at least that it’s a good decision and I’m not overpaying. So that’s just me. I’m just waiting, saving more, putting some aside, but I, I don’t wanna wait either. So I’m constantly looking at properties and looking for opportunities, but at the same time, I know I kind of have to wait.
Kevin Daisey (02:05):
And for me, I’m trying to go in the Airbnb space. I have one that does very well for where I’m buying. It’s the summer type of vacation place. So I don’t really wanna buy something now either, you know, either way. And then most of my money’s made, you know, eight months from now. So I kind of wanna buy in the winter maybe fall or early spring. So that soon as I get that property, I can get it on the market and, and make as much money as I can as fast as I can, which will carry that property through the next year. So that’s just me, I’m waiting. Although I’m looking right, so I’m constantly looking but I know it’s best to probably wait. And the only thing I can do is make more money, more income, grow my company, grow my business. Me and
Speaker 2 (02:58):
Erik constantly are, are trying to work on that, which will allow me to create more money, set aside, more money that I can buy more real estate and go bigger in the next couple years to come. So I’m waiting. Let’s see what happens. Maybe there’ll be a crash. Maybe it’ll be a setback. I doubt it’ll be like a 2008. But all as I need is a little opportunity and a little less competition to get on some property. So, you know, keep your eyes open and we’ll see what happens.