quote:
It’s rough out there for buyers. I was in one yesterday I called the sellers agent after to see how many offers there were so I could talk with my clients about how far over list we’d need to be to have a shot.

Told them I never knew so many people had that much cash laying around, as cash offers seem to come in on a lot of the ones I’m involved with, and I show 500 plus a year

So as a youngish person only ~5 years into my career with only about $20k on hand you're saying I'm unilaterally screwed.

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Posted by BK Lounge

Member since Nov 2021

3768 posts

Posted on 3/18/22 at 12:27 pm to KamaCausey_LSU

quote:
So as a youngish person only ~5 years into my career with only about $20k on hand you're saying I'm unilaterally screwed.

Pretty much, yeah.. i mean you’re competing with hedge funds and huge conglomerates like Blackrock, Fundrise et al who come in and purchase entire neighborhoods and convert to rentals .. so ur $20k and middle class paystub wont go very far.. you’ll either pay much more for much less house, further out from any decent area.. or you’ll rent until the market ‘crashes’, whenever that might be .

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Posted by llfshoals

Member since Nov 2010

15613 posts

Posted on 3/18/22 at 5:31 pm to KamaCausey_LSU

quote:
So as a youngish person only ~5 years into my career with only about $20k on hand you're saying I'm unilaterally screwed.

No, but you’re not going to be competitive on homes needing little to no work that are move in ready.

Your best bet is new construction, get in on ones that just started and are 6-8 months out on completion.

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