I just recently concluded the Joseph Bernard Investment Real Estate’s “Apartment Investor Series” annual buyer’s seminar: “Finding a Deal in an Over-heated Market”, which focused on what successful investors are doing in 2016. Over the past five years, there has been building market pressure that is increasing the number of buyers in the market (access to low cost capital is a major change) and making it more difficult for buyers to find a “good deal”.
I am seeing seven major behaviors that successful investors are doing in 2016, here are items four and five:
Make (1031 offers, especially) quickly- If you are in a 1031 or even if you have not finished the sale of your downleg property in the 1031, we are seeing sellers accept offers prior to the close of escrow on the downleg. Conclusion: do not be afraid to make offers, even if you think it is a little too soon or early.
Make your strongest offer first – Just like the shampoo commercial: “You never get another chance to make a first impression”, you very well may not get another shot at a property you like if you do not put your best foot forward.
Next: Part III of the Annual Buyer’s Seminar review