Some things have happened lately in my personal life that have been disappointing to me and my family, but I can't forget the saying "when one door shuts, another one opens." Things may not go according to our plan, but that doesn't mean we won't have a better, brighter opportunity down the road.
The same thing can be said in real estate transactions. I have clients right now, for example, who made an offer on their dream home... only to be outbid and not given a chance to bid again. They were so frustrated. They took a break from looking for a while and then came across a new listing. We offered on it, and their offer was accepted. We just found out it appraised way over what they are paying for it. Whoo hoo! The other property was at their max price range, and it would have been a tight appraisal. This one is much more affordable, versatile, and they are going to go into it with some built-in equity. What started out as a disappointing set of circumstances is giving them reason to celebrate now. Let's always be looking for that open door!
Many investors have strong feelings about real estate either for or against. It's better to stay only in those markets that are liquid that are easy to understand and deal with, and that offer an attractive compromise between risk and reward.
ReplyDeleteYou are doing a grrat job on your blog (this is Stephanie writing this)!
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