My Property Journey Friday: How I Turned a "Terrible" Time to Buy into My Best Deal
Here's a story about an investor we'll call Jack. In late 2023, everyone was saying the same thing: "Wait, this is a terrible time to buy." Interest rates were high, and the news was full of warnings. The logical move seemed to be staying on the sidelines. But Jack noticed something interesting: because so many people were waiting, there was very little competition. He found a motivated seller who needed a fast sale due to a job relocation. After careful negotiation, he secured a two-bedroom apartment at a genuine below-market value. The first year required patience. The property's value didn't jump overnight. But he'd bought it right from the start, so the rental yield was strong from day one. Now, two years later, that same property has grown 8% in value, and he's increased the rent twice to match the market. What looked like the worst time to buy became his most profitable decision simply because he acted when others were too afraid. This makes you think that sometimes the biggest risk is not taking one at all. Has anyone else seen an opportunity where everyone else only saw a problem?