I contacted a realtor at noon. Had a outright cash offer within 1 hour. Countered. Ended up getting above list & above market. Contract for review within 2h. New home build & property contracted in 12h by the clock hours. Shise, is this unusual for the Jotaterhead economy?
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Seller's market. And my neighbor who is in construction is making money hand over fist! It is crazy-town right now! Company's like Zillow are practically cruising neighborhoods for properties to gobble up. There are a couple particular types of properties I would buy as many of as I could if I was out their looking to buy. Not necessarily the kind zillow is grabbing. But doesn't it all feel strange? Some of this does not add up considering the doomsday economy talk, but what happens if we relatively suddenly revert back the the gold standard. How will that affect the value of RE purchased now? Don't make me feel stupid.....
I have been investing in real estate since before the last crash, so while I can't complain about what the extra income, consider the source; breakneck inflation, mass migration, and a massive debt bubble that will have a 1000x greater impact than the last crash. I am looking for an off grid cabin away from the freeline right now. No metal to attract lightning.
I had an acceptable minimum & anything better was a win. My fingers on the economy pulse said if your investment paradigm considers any short term or otherwise market flux that would erase ANY of my 75% ROI gain, was an unacceptable risk, and if a cash offer was tendered at or above my minimum, see ya sucka. And if the shtf, I wanna be cash liquid when that happens. Then can reenter the market & buy 2 houses (Or find a hot South African girlfriend & make the cabin in the mountains perm).