Game Plan for 2021

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  • Even though real estate markets in the US are HOT right now, many are projecting that things will slow down a lot in 2021.

    Now is the time to start planning for how you will make adjustments in 2021. What’s your game plan?

    Continue calling and texting potential leads seems like the best long term bet. South Florida market is still really hot, low inventory, just gotta take it day by day.

    A lot of sellers keep telling me “not this year, maybe 2021”. So if they decide to sell combined with more distressed foreclosures/short sales hitting the market…the pendulum begins to swing more towards a buyers market and now what I have to offer as a creative deal maker becomes a lot more valuable.

    I’m still doing deals, they just aren’t falling into my lap per se, def. working hard for them!

    Find a business to buy (Laundromat, RV parks/campgrounds are top picks).

    Look for a 20 unit apartment building to buy.

    I use cold calls/mailing and driving for dollars.

    Erik, a great strategy for the RV parks! I think more people will become nomads or just downsize to an RV. A mobile home park with spaces for RVs would be good too.

    I’d be nervous about buying an apartment building now. What if the government says all 20 tenants don’t have to pay rent???

    You’re right. I’d definitely wait until things settled to actually purchase. I’m sad for the trajectory of the country. Might move to Panama! wink

    Erik -=- you could build a tiny home community out of shipping containers in Panama — would be super popular!!

    But there are no RV parks or mobile homes in Panama.

    Hey fellow Cashflowers,

    We are going to keep moving forward. until we see significant changes in the market. We really don’t think any administration wants a bad economy on their laps and if recent history is any clue, they will attempt to borrow their way out of a cool down. Interest rates will stay relatively low as well IMO.

    Our Company plan is to keep doing median price home flips, wholesale the properties that don’t fit our model, creatively structure and hold whatever we can that cashflows, and look forward to not needed a mask to walk inside a building.

    Do you anticipate have a high volume of evictions and foreclosures in your market??

    Oh yes. Evictions will be high IMO. forclosures may be slower due to gov programs and restructuring of mtgs.

    I agree with Erik, our country is heading down the tubes. Hopefully we can recover in time.

    I don’t believe the Gov will bail out the evictions or foreclosures, and certainly not the failed businesses. I’m staying strictly with SFHs, buy and rent. They have been the best proven part of RE investing over time. (Just read Jack Miller). Very few flips, unless they’re killer deals. And all of that perhaps later in 2021 or 22. We’ll see.

    While MH and RV parks make sense in some neighborhood, they don’t in mine.

    All good points.

    2021 will certainly be a year to be cautious.

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