Should You Invest in Real Estate in a Seller's Market?

Jim and Linda McKissack answer a listener's question: "Should I wait or buy a house during a seller's market?" 

Jim notes that it depends. It's important to have a system that can help you determine if it's a good deal or not. Linda reiterates that they've never lost money on a house that they've purchased and held, but they have lost money on houses they've flipped. They talk about how shifting your market of the moment opportunity based on what the market is doing--and that the nightly rental business is really hot right now. They share that there are a few opportunities through the four D's: Drugs, divorce, death, and distress. They recommend to not buy on emotions and say that "Deals are deals, no matter what the market is doing." 

RESOURCES: 

• Hold: How to Find, Buy, and Rent Houses for Wealth
• Building Wealth One House at a Time
• "Motorboat Mike" Michalowicz's book Profit First
• Freedom Number Worksheet 
• Everything Life & Real Estate Episode with Motorboat Mike

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• Podcast Website