Jan 14, 2020
People have been getting rich on #RealEstate for decades - really going back hundreds and even thousands of years (before the current crop of humans on this planet even existed). But the #EconomicCrash of 2008 / 2009 might just have created the best Real Estate buying opportunity of our lifetimes.
Now as humans we tend to suffer from "recency bias" - thinking that what we've experienced is the best (or worst) that anyone in history has ever dealt with. True or not - in this episode of the [... @andLandlord!] #RentalRealEstateInvesting Podcast, I'm asking the question - "Are You Late To The Party?"
"The Party" I'm speaking of is the situation that followed the "#GreatRecession" of 2008 / 2009, where a year or few later (sometime between 2010 to 2012) - in many (if not most) locations in the country, it was possible to buy Real Estate for LESS than its replacement cost. In other words, you could often buy a property for less than it would (or did) cost to build that same property new. That's a situation (a party) that doesn't happen every day.
So in this [... #andLandlord!] Podcast episode, I mention my envy of those who were able to jump on those deals right at the start of the party (around 2010 to 2012). And I lament the past a bit (something I try NOT to do), in that I didn't get to the party until 2015 - but still in time to grab some #amazingdeals that are paying off big-time for me today. And I start the episode by asking (singing in fact) "is the party over?"
If you're just seeking to get started in Rental #RealEstateInvesting here in 2020 - are you 5 to 10 years late to the party? Is the party over? In fact, did the party end in 2019?