Making money in any market is possible, but stick to the basics. One lesson I’ve learned is the deal is made upon purchase. Those six words did not fully resonate with me until our fifth purchase. And it really didn’t stick until I heard that same principal described like this: The purchase price is permanent.
That could not be more true. Any property can be refinanced into a better rate, the mortgage can be paid off early, etc. A lot of things can change in real estate, but one constant remains with the property until you sell: the purchase price. So pad your numbers when underwriting, build an arsenal of banks to constantly call and buy smart.
