shopping centers, and recreational facilities on property values and market demand.
9. Real Estate Market Cycles: Understand the phase of the real estate market cycle in your target market, whether it's a buyer's market, seller's market, or balanced market. Market cycles can influence investment strategies and timing. • Seller’s Market: Less than four months of inventory; low competition. You will likely sell for a good price. • Balanced Market: Four to six months of inventory. Properties might take longer to sell, and could sell at or below asking (if they sell above, it probably won’t be by much). • Buyer’s Market: More than six months of inventory; lots of competition. Properties take a while to sell, and often sell below asking. • Local Real Estate Experts: Consult with local real estate agents, brokers, appraisers, and property managers who have in-depth knowledge of the market. They can provide insights and perspectives based on their experience and expertise. By analyzing these factors comprehensively, real estate investors can make informed decisions and capitalize on opportunities in the market while minimizing risks. It's essential to continually monitor market trends and adjust investment strategies accordingly to adapt to changing market conditions. The first thing you have to do is choose your market. If you’re flipping, consider looking for the location closest to you that has a population of at least 100,000 people. (Bigger market = more opportunity.) This is considered your local market .
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