New Video:
Quote I love: “It’s waiting that helps you as an investor, and a lot of people just can’t stand to wait.” - C. Munger
Real estate is lot like saltwater fishing. When the tide is moving, bait fish move, and you can catch fish. Slack tide occurs in the transition time between high and low tide. It is best to eat a sandwich and enjoy the scenery during slack tide because it is very hard to catch fish. When the tide is still, the bait fish are still, and predatory fish (your target) lock up. The same can be said in real estate. Opportunities can be created when is the market is on the way up or the down but there is not much to do when nothing is trading. Interest rates are up 115%+ from 15 months ago. This is never happened in anyone’s lifetime. Just last week, two large banks failed which has not happened since 2008. It is safe to say that market has turned from greed to fear and it happened almost overnight.
For the prudent value investor, this is the situation you have been looking for. The question becomes where is it best to put your time and efforts in the real estate world?
It is time to wait. We will be seeking to strengthen relationships with brokers, lenders, and long time owners of real estate. Our hope is to be “top of mind” in the event someone is motivated to sell.
Lagniappe:
It was short and sweet today. If you enjoyed this today, please forward it to another curious friend. I love your replies to The Real Deal. I read every single one, and I try to respond as often as I can.
www.pearsonpartnerspe.com