How to Find Value in Any Market
Most people will not believe me when I say this, but there is value to be found in the Nashville Real Estate Market.
I was reminded of the value in Nashville as I was reviewing the numbers of a foreclosure auction that I attended yesterday.
I know what you are thinking.
You: Nashville is experiencing record growth with low inventories. How can there be any value?
Me: That’s a great point, but look at this for a minute.
Just like the stock market, there are two strategies to finding value.
The first strategy is to identify the properties (stocks) that you want to own and wait until they go on sale (become great value).
I don’t know about you, but I do not have time to wait on any particular property.
The second strategy is to study the market to find opportunities that most everyone has overlooked. These opportunities are out there in every market due to our herd mentality. Humans are hardwired to follow the crowd. This creates trends. So when one person does something, others follow.
And if you are following the herd, you will never find value. Crowd following gets you caught behind the supply/demand curve. You might even pay more than it’s worth.
Instead look in the niches. Maybe it’s a neighborhood, part of town, type of home or other hidden gem. Somewhere in Nashville (or the surrounding area) is value that you can make your own.
In order to get there, you have to take the first step.
Tell me about the value you are looking for in the comments below.
This Deal of the Day in Nashville has expired because it sold. To see the latest Daily Deals, click the link below: