I don’t state it publicly very often, but I’m frustrated.
It isn’t from the state of the market. The market’s fine thank you. People are buying and selling properties every day.
It does seem, however, that there’s a different kind of buyer in the market. Having been exposed to too many media headlines about what constitutes a good deal or what they should be able to buy for their money, many are simply delusional.
Hate to break it to you, but you’re just not going to get that duplex with an 18 percent cash on cash return, loads of woodwork, next to Lake Calhoun, with a ballroom on the third floor and central air for $60,000.
Simply because it doesn’t exist. Period.
What does exist, however, are properties that are good values, providing a nice return in a decent neighborhood and that require, largely, a little bit of lipstick.
Here’s how you can find it:
There are still great opportunities out there; if you stay focused and realistic.