Summertime Equals Peak Property Buying Time!
As temperatures heat up so does the activity in the real estate market. People come out of the woodwork ranging from casual investors to people looking to buy or sell a home before the new school year.
Either way the market always has more hustle and bustle during the summertime and it is on us as investors to take advantage of that.
Yes, there may be more competition, but there are also more homes for sale as many wait till the spring to list.
Even for off-market deals, people don’t want to move during the winter and are more inclined to sell in the spring and summer months.
Bump up your efforts and expand your search
Venture into a new market
The summertime effect impacts all of us. As an investor I’m more inclined to visit out of state markets during the summer. Yes, I have gone to cold places in the winter to see property, but it was straight business and I was in and out quick.
During the summer you can go check out a new city and double it as a vacation with the family. Kansas City or Indianapolis (both good rental markets) are a much easier sell as a destination in the summer time that is for sure!
More offers, more contact
As I said, more properties are available during the spring and summer which means more properties to offer on.
Whether it’s more listed properties or from finding more off-market deals, the number of offers you are making should be ramped up.
Especially for the cold weather climates, attack those off-market opportunities. This is when people are most willing to a make a change and deal with you coming to see their property. People like to hibernate in the cold winter months and not deal with anything extra.
If you are doing mailers or dialing for dollars then ramp up the amount you send or the calls you make.
Step up your networking
The attendance at networking meetups always goes up in the summer months. It’s beautiful out people are more social and the odds of you meeting someone that you can do business with increases.
You never know who you will meet. Someone could be visiting from out of town checking out the market and looking for a local to partner up with. You can be boots on the ground while they provide capital, for example.
Enjoy the summer too!
The point is there is more going on in the summer which can lead to more opportunity. Try to take advantage of that.
Let’s also remember to get a little enjoyment in. We work hard all year on real estate investing and taking a break to enjoy that is necessary too.
My wife is a RE agent and while the last couple of summers have been slow things are picking up these days. There are some lick-and-look people but also many serious buyers.
Great to read your stuff Mr.Cat.
!BEER
Bucky
Appreciate your reading it and the attempt at tipping a beer ;-)
I see the signs all over as I drive around these days! I am a litte concerned as it is more than I have seen in the past. Price could start to weaken down here soon.
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I mean, we are definitely in the late stages of this cycle. Whether it last 6 more months or two more years is anyone's guess. The drop in interest rates back to all time lows was a shot in the arm for the near-term. Last shot of juice there really is though.