Well the market here is still extremely hot! No one outside of Real Estate can understand with the current market conditions how it can be a seller’s market. All of the moratoriums have really hampered the avaliable inventory and now that we are in the busy season everyone is getting aggressive.
That being said after making hundreds of offers we are close on three properties. One is in our main city, it is a decent deal, but I am leaning towards wholesaling it, we can make 75% of the profit wholesaling it.
The second one is a really great deal that we will definitely rehab. It is in a good area but outside of our market. We do not have this one under contract but we made an offer, the bank countered, and we made a counter, so the bank will either accept or give us one more counter that we can accept or walk from.
The last deal is the one I’m the most excited about. It’s cheap, but if we get it, it will be our first rental property. It cashflows per the 50% rule.
After that, we are probably going to lower our offer threshold and only buy the super deals. We do not want to overextend ourselves at all.