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#1439 - Q&A: How to profit from a distorted real estate market?

2020-12-09

Today’s caller is interested in profiting from real estate. Considering the longterm effects of the global pandemic, might there be some new opportunities?

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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Hey everybody, this is Jason buckling and let me welcome you back to our podcast in conversation with shop, a five plus season, one was all, but the biggest names and business Steep Maddy, Danny Reeves chip. Wilson, wait till you here who are talking to now proceeding to fill prim ceo aspect works. Myths, founder tv, you hire Qatar counter, have had their hats and trainees, spear, cofounder, Hosea Eggs, Chrysophora, cofounder, lower carbon. capital hurry, ok, Theo, airship this, whose in conversation wash up. If I put everybody, what's up crystal about here at your host of side, hustle school, so excited to bring you a daily episode every single day for more than one thousand four hundred days and counting. Thank you. So much for for the journey whether you ve been here from the beginning or if you just heard about yesterday, As well as whatever path in life you're on, if you aren't experienced entrepreneur, if you have never started any kind of
business or never made money apart from your paycheck. Really, this whole project is about helping people in those situations, especially those with day jobs who are trying to diversify their income. It's about helping people do exactly that now. Historically, when people have talked about passive income or multiple streams of income, I'm sure you ve heard those prices. Historically, they have referred to the practice of buying rental properties, not something I dont really specialise in something. I don't talk about very much here, be I think people are familiar with that and when I try to do a subtle school as highlights many of the many many different opportunities there are simply having considered something different, my hope and listen to the story, even just a month's worth of archival episodes at a very short less than ten minutes long on average. and get a whole bunch of different ideas for stuff that you never considered before. In this listener question, however, today's collars interested in profiting from real estate we ve looked at it.
Subject from time to time, considering the long term effects of the global pandemic right, here's the twist might there be some new opportunities, shall explain that a bit more in your question, how to profit from a distorted real estate market. That question in my answer is coming up after this message from our sponsor This episode is brought to you by HP plus in a world full of smart devices shouldn't year printer be smart too. It is with age people ass, these printers No, when they're running low Z, you always get the inky need delivered right when you need it, plus you save up to fifty percent on ink, so you can print whatever you want as much as you want any time you want he's pretty smart get fix brain. Events in ink when you choose HP, plus conditions, apply, visit, hp, dot, com, slash smart for details
I presume this is Kelly from Columbus and I've been listening to the show for a while. Now, thanks for the helpful advice when the pandemic started real estate, jails in my area slowed way down, but only for a month or two, then they started back up again feel by lower supply as war sellers kept their homes off the market. Now the overall market is way up with housing prices, at least five to ten percent higher this year. Compared to the last, however, it's a very lopsided distorted market. No one wants to buy condos or small spaces. Everyone wants big spaces further out of the city and anything with the backyard. Is there a way to profit from these changes?
take anything so much regarding good to hear from you. I have actually heard much the same thing about real estate market. Of course, real estate markets vary quite a lot by location. The market in Brooklyn is going to be completely different from the Birmingham Alabama market and its not just extreme comparisons, like that's from city to city, state, to state province to province, Et Cetera, lots variations, but generally speaking in areas I'm familiar with that I've heard quite a bit done. The same thing is Kelly: how at the beginning, the pandemic everything slug way down, but then it picked back up because of the difference in supply and demand and such and for sale. Prices are actually up a lot of places just not for condos or anything. That's a small urban space and that's fuelled by couple concerns. First of all, people looking for back yards and an outdoor spaces or anything, that's that's larger You know that a small apartment, but also its not just as a safety concerns, also because everybody's working from home, working from home and and going to school at home- and
and ass. We come out of the pandemic, hopefully or at least transition to a new phase. I think more more people working are going to continue to be in those kind of environment. So that's what people looking for a larger spaces now inside us a life. I think it's important, not just real estate let's make this broader- you always want to look at what people are missing or not paying attention to. If you do want to be a real estate investor in the traditional sense- and you know snap up some properties for future rentals. Maybe this is a good time to acquire some of those condos if you're thinking
seven years out or whatever, but I would say also like use this time to make sure your houses in order, but your own house opponent ended there. You know make sure you have a good credit score, make sure you have your emergency fund three six months worth of expenses, pay off any debt that you can or if you can't pay it off tried a consolidated to low interest it so you're at least not going further and further behind and in practice, most important of all like before you invest in real estate. Consider other options. As I said at the beginning, like there's somebody other things you can do, I think having a diversified, real estate portfolio like people talk about, gets a noble goal, but I think it's it's bad. It's just like so many other options. As I said, I also requires you to have significant assets in the first place. So if you're not there yet defer that goal and work on something else and don't be discouraged because first of all, those other options, and second, remember that allow those
The real estate investors are not necessarily doing that. Well, I always hear these success stories about them, but there's a lot of people who get into this in and have have trouble, whether its with renovation, refining, renters or just realising that the whole thing is. much more of a hassle, so keep all those things in mind and look at what people are missing or not paying attention to listeners. If you have a question- or Or an update of your own country status or school dotcom slashed questions where continue to feature that It's my favorite things to your wish Europe to help your continued to join me not every single morning, seven days a week, mining is critical about this. as soon as possible. From the onward projects.
Transcript generated on 2021-09-05.