Well, it’s September which is not really the actual beginning of fall but for me it’s definitely a benchmark that it’s time to get out the Filson, but away the summer gear, and make darn sure the winter gear modules are ready for the vehicle and the Bag O’ Tricks(tm).
I’ve been wanting to purchase a chunk o’ land somewhere and have been keeping my eyes open, as well as being rather aggressive in my investing. Thanks to some reckless disregard and a whole lot of covered calls I’ve hit my goals for my real estate fund a tad early. I was talking to someone the other day about when to buy and I mentioned that I thought the current super-hot market couldn’t last forever and I wanted to be in a position to take advantage of it when it eventually cooled/burst. I speculated that when the feds finally raise interest rates and mortgage rates go back up, the housing market will slump a bit. He opined that he agreed with that but he had another take on things that I found fascinating.
He thought that as the eviction moratoriums come to an end, and recalcitrant ‘tenants’ are finally shown the door, fed-up landlords and people who had been meaning to sell their properties will flood the market with houses, driving the prices back down and perhaps ‘bursting’ the current housing bubble. An interesting thought. Regardless of the cause, at some point the prices will eventually ‘adjust’ downwards and I hope to be there, cash in hand, ready to put Rancho Ballistica aka Commander Zero’s Post Nuclear Bunker O’ Love And Lingerie Proving Ground into reality.
Tough on young folks…..
I can tell you from experience that perfect time never comes and the perfect property never appears. If you really want to buy property as opposed to dreaming and planning, get to it!
Otherwise, you wake up one day and its too late. Either the apocalypse is upon you, or you are too old or too frail, or life has happened (kids need braces, divorce, something).
Best wishes.
Similar plans here, but different circumstances.
Still waiting to find out if the state COVIDiots will cost me my employment end of the month.
Interesting times, for certain.
Yes, and no. Depends on the “targeted” location you are shopping in. Many prepper prime areas will not devalue enough for a bargain entry fee, assuming cash buyer. Financing being a dummies option anyway. If one is positioned in many ways: (money, packed up to move, unattached or trained up family units, researched/smart) they can take advantage of many other buyer golden opportunities in a prepper/survivalist high attribute area and not be sideline sitting on hands dependant on macro economic favorable winds. Your fantasy wish list and expectations may need modifying, but a “way better locale” will offset any waiting too long for that dream list place, or upon a not certain to happen market or buyers economic changes to occur. Find a low valued fixer that a widow wants to unload in an area of like minded frens. Mizzoula served a purpose, your getting older and time is short these days. get out, a.s.a.p.
Get moving on it, now! You’re not getting any younger.
its already cooling way off. land and house prices are being marked down from a month ago. realtor said velocity has dropped off the cliff. everybody is pulling back to see what comes next in this shit show called the biden regime. lumber demand remains low despite lower prices. the free money is coming to an end as well. lots of repos coming. good business to be in if you have the stomach for it.
I don’t see this market holding much longer. Where I live, when 1970’s doublewide mobiles on postage stamp lots are going for over $200K, we know the bubble’s reached the bursting point…
As far as that “eviction moratorium” is concerned, now you’ve got Bitme’s flunkies urging lawyers to provide pro bono services to tenants. If the Supreme Court says no, tie the landlords up in court until they go broke. Notice that the benefit goes to the tenant and not the landlord. The whole idea here is for the landlord to lose the property to a bank. The tenant doesn’t care who owns his rental. On the other hand, the final result is that a few wealthy people will own all the real estate in the country, and everyone will need to rent from them… Shades of the UK… We fought a war at one point to get away from a system such as that…
I’m thinking Idaho. West Virginia calls as well. I would need to deep dive compare the two economically.
Hey Commander Z! Happy for you that you have been able to reach your goal. As someone said earlier, some won’t go down as much as others, but they will be coming down. Prep On!
Congratulations on hitting your goal for the real estate fund. I could tell you what I think will happen, but truthfully there are so many variables that no one knows how everything will play out. Variables that may be local, national, and/or international will affect each of us and in different ways.
Why worry? We each can only do the best we can and don’t worry about variables beyond our control. Keep saving and looking for that land. I enjoy reading about your quest and progress.
I’ve made it this far trusting my gut and the prediction is there will be a major correction by the end of this year. Pick up some land for pennies on the dollar then.
So, The Old R.B.C.Z.P.N.B.O.A.L.P.G. then…
Sometimes the best deals is something nobody wants. I’ve had some success over the years buying fire damaged properties. Clean up is something to think about carefully as older homes often have asbestos issues and that is expensive. Learn the CURRENT rules of clean up before starting.
But if the well water is good and hopefully the pump is good (TEST FIRST) before buying, and you have a clear title a fair bit of property can be had for some somewhat expensive work. One place I bought for Y2K had two nice wells, a solid barn, some outbuildings and several mature apple trees that just needed some care. The previous owners were elderly and went into a home after the incident.
Keep building your “real estate”.
It’s always gonna cost more than you budget for.
Right now I’m super-heavy on pumpkin futures. Figure they’ll peak right around Thanksgiving.
Cha-ching!$$$
If there are any staff positions available, I would like to submit an application. I have a Doctorate of Callipygian Studies. I’m also a certified pantyology, with extra coursework in thongs. Plus I already have a lab coat and a large supply of gloves.
As mentioned above, don’t forget that real estate is the most local thing there is; the market varies widely depending where you are and what you’re looking for.
There are deals to be found in any market and overpriced listings in any market as well…
Personally, I suspect rural areas will hold value better than urban ones – less upside, but also less downside.
Congrats on the fund, with your track record of finding deals I don’t think it will take too long.