INVESTING
On the day following the launch I toured the space center and was amazed to learn about the time and preparation it takes to get the shuttle to the launch pad . The most interesting aspect was the vehicle known as ‘ The Crawler Transporter ’ that moves the shuttle from the warehouse to the launch pad at one mile per hour . So , what does this have to do with real estate ?
It is all about the importance of preparation and having a plan particularly on the horizon of a recovering property market . Markets can change quickly and if you are not prepared for what is coming then you may lose out on the opportunities that present themselves .
• Preparation is Key : The recovery phase of the property market demands a solid plan to seize emerging opportunities before they vanish .
• Know Your Investment Style : Determine if you ’ re an active or passive investor to focus your efforts on the right types of deals .
• Leverage Your Network : Build connections with real estate professionals to access valuable insights and uncover distressed properties at bargain prices .
Although no one has a crystal ball or the ability to 100 % predict or ascertain what phase of the property cycle we are in , with interest rates peaking and starting a downward trajectory , it is fair to assume that we are in what is known as the recovery phase of the market .
The recovery phase represents the bottom of the trough and is crucial for two reasons :
1 . It ’ s the perfect time to prepare and get ready to seize the right opportunities .
2 . It ’ s an opportunity to buy bargain-priced properties and reposition them for the upcoming boom and expansion phase of the market .
38 REI MAGAZINE NOVEMBER 2024