2012 has turned out to be another great year for those of us in real estate. We were able to do a lot of flips and have a lot of fun as usual. InvestCLUB for Women is going strong and our 60- day challenge has been such a successful and fulfilling experience for us. Having a real estate club, we used to see a lot of newbies come in and buy a ton of seminars but never get anywhere. Currently, we get to see our members, who are now like family, grow up from having no experience, to closing their first, second, or third deals, etc. It’s been a very fulfilling experience for us to feel our club shift to the club of action and we’re excited to see how our 60- day challenge graduates do this year.
The end of 2012 has thrown everyone for a loop. Inventory levels are so low, that it seems like a struggle to get a deal off the MLS, which was the low- hanging fruit at the end of last year. Being in the real estate business, you have to be flexible as the market seems to change weekly;, you need to constantly update be updating your strategy to stay on top of it. So by the end of 2012, we and our 60- day challenge graduates, or “Warriors” as we like to call them, are focusing more on the hidden markets. Dealing directly with sellers to get the best flip opportunities as well as some juicy seller- financing deals to buy and hold.
Our main focus in 2013 (in addition to some flipping) is holding as many seller- financing deals as we can get our hands on. We had the privilege of seeing the late, great Jack Miller at one of his last live seminars in California. One thing he said that really stuck with us was that ‘once you can no longer buy inventory for less than you bought your last batch, then start holding.’ It stuck with us and we can definitely feel that shift has occurred. Bruce has confirmed it in his latest reports that prices are likely to climb this upcoming year as inventory shrinks. So we intend to hold more than we flip and enjoy the ride up.
We look forward to the New Year as we refine our buy- and- hold strategies and sharpen our property management skills to get ready for the upcoming market. We will be updating our 60- day challenge to focus less on the MLS deals (although we still get deals there so we won’t be throwing it out the window) and more on direct- to- sellers to create more seller- financing, buy as well as buy- and- hold, opportunities.
Thank you to Bruce for keeping us all up to date and providing an example of how to do business with the utmost integrity. We are grateful for everything you do for us and our community.