Follow These 2 Rules When Buying Real Estate in Today’s Market | Saturday Edition E105

The Rich Somers Report

Rich Somers

Business, Entrepreneurship, Investing

5 • 910 Ratings

🗓️ 4 November 2023

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today's "Saturday Edition" episode, Rich answers the top question of the week that was sent in by our listeners. Rich and Alex reflect on connecting with several private investors this week, and discuss next week’s Beers & Deals event. They also analyze the real estate market in the last 3 years, and Rich shares his two rules for what he needs before buying real estate with today’s high interest rate environment.If you have a question you'd like answered, please email info@somersc...

Transcript

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0:00.0	I believe that the market's going to continue to soften before it improves.
0:03.8	I think there's no doubt about that.
0:06.0	The high-interest rate environment is going to lead to higher cap rates and so pricing is going
0:11.1	to soften and that's how we're penciling and underwriting our deals.
0:14.6	So for us to buy a deal right now, this is something that anyone should be applying to their
0:19.9	real estate investing strategy is you need to be able to buy at a discount and you
0:24.5	need to be able to add tremendous value. Those are the two rules that I that I
0:28.2	need to abide to in this climate. All right, guys, welcome to another episode of The Report Saturday Edition, and I got my co-host
0:50.4	Miss Alex Johnson.
0:51.6	Alex, welcome to the show.
0:52.9	Thanks so much.
0:53.5	How's it going today?
0:54.5	It's going amazing.
0:56.4	We're coming off a busy but productive week.
0:59.0	Mm-hmm.
1:00.2	And super excited because we got our Beers and Deals meet up this coming Wednesday,
1:05.1	5.30 p.m. here in Lid Italy at the Simone Building.
1:08.8	Yep, November 8th, Wednesday, our second to last one of the year so I'm excited for it.
1:14.1	Yeah for any of the listeners of you guys have not attended and if you're in the
1:18.8	Southern California area would highly suggest you guys come out it It's San Diego's biggest real estate
1:24.9	investing meet-up. We've been doing it for almost five years. We usually get 100, 150
1:28.4	plus good vibes. We got sunset views, bay views. And if you're not in the area maybe fly out
	...

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