December Lull for Property Managers

No doubt about it, December is probably the worst month for real estate. The kids are finishing up their final examinations at school. Christmas is coming, and the family will be heading out of town to go to Grandma’s house to celebrate the season. December is a time to be with your family, and almost nobody wants to be moving in to a new house during this time of year.

The Silver Lining for Real Estate Investors

If you are marketing a piece of property during this time, good luck. I am trying to market a piece of property in my small town of about 100,000+ people. It is a more expensive property, thus making it even more difficult to find a suitable prospect. But on the flip side of the coin, since there aren’t many buyers out there right now, it is a golden opportunity for you to find and negotiate the sale of a house or other property at well below market rate. I am also currently negotiating 5 units on two separate locations during this time.

A fluke happened, and I noticed a pair of duplexes on the MLS that fit my formula for rental property in this area. I drove by the properties and found the realtor/owner in the front yard tending to some tree limbs. I inquired about the property, and he informed me that they were under contract. But he had another piece of property nearby that he wanted to get rid of, and it wasn’t even on the market. So guys it pays to drive areas you want to invest in, and talk to people that are there. Since then, one of the duplexes became available again, and we are negotiating for all 5 units. This will be a great deal and should allow us to gross over $1,000 per month in rental profit.

So bottom line, stay out there. Keep looking, talk to people you know, try to get into others. A good idea is to find out some of the top real estate brokers in the area, and just call them up and invite them to lunch. See if they are working with anyone that might have a property that fits your formula. Networking is key in real estate.

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  1. Pingback: Update on My Real Estate Activities

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