Is Now A Good or Bad Time To Buy Real Estate?

Coach Corey Wayne

Relationships, Society & Culture

4.6 • 532 Ratings

🗓️ 17 January 2022

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

Andy, Mike and Corey discuss if now is a good or bad time to buy real estate in the current market conditions.

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Transcript

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0:00.0	Well, do you think that it is now, I don't think we talked about this, but being, uh, buying now,
0:10.4	but do you think that that's a good, a good time to buy?
0:13.7	Yes.
0:14.4	Listen, if you have the funding, I mean, best example, right now happening as we speak
0:19.9	with the last 72 hours.
0:21.3	I put a one bedroom condo on the market in Lakewood Park across the Altamont Mall.
0:27.1	Investor bought it for $40,000 eight years ago, nine years ago.
0:29.9	I have a tenant in this place.
0:32.6	Fantastic tenant.
0:33.6	Great pays his bills on time religiously.
0:36.2	He kept this place in tipped up shape.
0:38.3	I had to call him and say, John, we're getting ready to put your property on the market,
0:44.3	to sell his, you know, getting rid of some of his inventory, would you like to take advantage of buying it first?
0:49.3	Since you are a tenant, you're obviously preferred clients so that we don't have to go, you know, put it on the market,
0:54.6	help you out as well because I know you don't want to move, as you keep telling me.
0:58.1	So, and this gentleman easily can qualify, and had plenty of money in the bank.
1:03.3	I got him pre-screened for one of my lenders, was able to do so.
1:06.9	And with the amount of money he was able to put down, he would have had a cheaper payment on his mortgage than what his rent is.
1:15.7	So, however, circumstances this personal life changed the last 24, 48 hours where he might get transferred or he has a better job offer.
1:22.9	So he says, you know, I can't commit to buy.
1:24.9	So, but help me temporarily find a buyer who maybe is an investor, you know, so I can rent back
1:30.9	from him.
	...

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