I will start by saying there are great deals in any cycle of the market.
There is money to be made whether the market is going up, down or sideways.
Just remember, the trend is your friend.
Right now, we’re experiencing a strong uptrending market, investment and consumer demand is high and prices are responding by going up.
But the coronavirus has dealt a huge blow to the real estate market.
Shutdowns and stay at home orders halted almost all market activity in early springtime.
Property tours we’re severely limited, retail shops and restaurants were shut down, office workers were sent home, and homebuyers were laid off – losing their buying eligibility in the process.
In March I had a great deal on a single family home for $44,000 that I was planning on wholesaling.
I killed the contract because it looked like the market was going down very fast and I was not confident I would be able to unload it for a quick profit.
If I would have stuck with it, I believe I would have made a quick and easy $20,000+.
Over the past several months, the real estate market has picked up.
Shutdowns and stay at home orders were lifted.
The government stimulus pumped over a trillion dollars into the economy. And its effect has been felt all over.
Still, the coronavirus has impacted the market in a negative way.