I looked at a rehab house last week,nothing special house, 1100 sq ft,vinyl sided,metal roof which is nice due to a large snow volume every winter.needed work maybe about $25000 so not bad but still remove carpets,paint,flooring, install new propane furnace as it is all electric heat currently,yard cleanup etc.mouse poop everywhere like it was spread by the handful.worth about 175k when done, asking 85k,i offered 90k cash no inspections,we were told highest and best thursday noon.my broker contacted the other agent to confirm he got the offer, he said yes yours and 20 others.They pretty much had to be cash offers or hard money which is not widely used in my area,so mostly cash offers.seems like an awful lot of cash out there looking for a project to me.I did not get it, probably not even close --38.248.xx.xxx

Markets still super high. I think it’s safe to say that real estate’s a bad investment at the moment. --24.152.xxx.xx

I hope the place appraises alright, but with multiple offers- it should. This area doesn't typically have this occurring, so that isn't a good sign --67.140.xx.xx

--47.227.xx.xxx

It’s not bad for Ray, it’s just bad to find new deals. --162.204.xxx.xxx

I guess we won't know until we know. --71.58.xxx.xxx

Bubble or not, who knows. But when you have 20 investors jumping on the same deal, that certainly means something. --24.152.xxx.xx

Been happening here for several years now. Big, small, local, and out of state investors like crazy. They are paying way too much. --73.19.xxx.xx

The Tiktok investors with a wad of cash. I haven't watched them but my son was telling me about all the bad advice that's running rampant from those investment guru's, I use that term loosely as most have no significant experience or credentials especially longer-term. --99.64.xx.xx

Mike A, that’s true. I saw one the other day who was telling his own workers to buy now regardless. His worker was saying that he was waiting for a downturn. The “influencer” said there wouldn’t be one. Spreading the rumor that there won’t be a downturn on the biggest run up in history is nuts. Just wait until a massive amount of these influencers are totally Ai generated and used to control swings in the markets remotely. It is clown planet, proceed with caution. --24.152.xxx.xx

I agree that things are way overheated and I fully expected a reversal, but now I'm not so sure it's in the cards immediately. Notwithstanding the bounce in the financial markets, I think there's upheaval coming there first which may cause more interest in hard assets like real estate. The problem is that there's hardly anything that's rational and supported by fundamentals. --23.28.x.xxx

GKarl, that’s been my take on this since the stimulus got pumped out. There isn’t any advice that anyone can give us on this because it’s a new market. It’s all a guess. My approach is the same, if it makes sense from a Cashflow perspective, buy it. As a result, I’ve only bought 2 rentals in the last 5 years and sold one of those and several others. Made more sense to sell. It’s not for a lack of looking for new deals, it’s for a lack of Cashflow numbers. --24.152.xxx.xx

Cashflow is the main metric that I look at, but the market has moved to emphasize capital appreciation. That's purely speculative but has been working for now. I think financial assets are going to hit a wall before real estate though and possibly drive more people into real estate as a safe haven. To me, those assets are more unhinged from reality than real estate is. --23.28.x.xxx

After a 30% jump in the last few years, how much more appreciation are we thinking? --24.152.xxx.xx

I don't know. Before I would have said further increases would be impossible, but I'm thinking that people are going to be more interested in "real stuff" simply to preserve capital. I could be wrong, but I think there's a real possibility of a significant reversal in the financial markets that could be the driver of continued demand for RE as a safe haven/capital preservation move. Like you said, it's uncharted territory so there's no precedent. --23.28.x.xxx

--64.38.xxx.xxx