Our Top Tips on Navigating the Current Market Environment

In this episode, we look at current market trends and discuss how they apply to our portfolios. We discuss whether it's a good time to buy, sell or HODL, is it a good time to refi or put money into a property to brig rents up, or whether or not doing nothing at all can be the best form of (in)action. --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The remote real estate investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Tom: Greetings, and welcome to the remote real estate investor. So we're a little bit over halfway through the year when this episode is going out. And what we're going to do for this episode is we're going to take a look at some stats, we are looking at the Stessa newsletter, we recommend everybody subscribed to that newsletter, where they have a lot of great sources of data. And what we're gonna do on this episode is go through the data talked about how it applies to our portfolio, our decisions on buying, selling and everything. Alright, let's get into it.   I'd love to hear before we get into it. What's going on? portfolio? All that good stuff. Emil, why don't you start us off?   Emil: Yeah, so I was chatting with Michael The other day I gave him the rundown. But the triplex or St. Louis triplex, we had the tenant leave who I mentioned to you guys, and it's been a month, and we still don't have a bid in hand for renovations for this unit. And so just know, I was a little frustrated, you know, I had to call my property manager on Monday and just be like, Man, it's been a month, like, What is going on? Like, you know, most of you go through turn, it takes like a week or two to get a bid and then you start work. It's been a month and we we don't even have the bid yet, let alone starting.   And so I chatted with him, he's let me know that he's contacted like five or six general contractors they work with, and everyone is either on vacation or, or busy. I know right now is just you know, a lot of people are flipping from what I hear from people who do a lot of renovation, it's just really hard to get people in the trades working right now. So just rough man, just rough. Want this unit turn quickly. It's been a month sitting vacant. So that's one month now rent. So I mean, best case scenario, I don't know at least another three, four weeks till this thing's even ready to be leased out. So I feel a little frustrated. Try to be patient. But it's kind of the update right now.   Tom: Is there anything you think you could have done different? Like, I don't know, going back like, a couple months from now? Or do you think it's just just kind of what it is? I'd love your post mortem.   Emil: I think there's always something to learn, I probably should have like, I don't know, lit a fire under my property managers, but a little faster. And just like, you know, the thing, the thing that was tough about this one was the tenant just left so we weren't prepared. It wasn't like they knew when the tenant was leaving. So they'd be able to just go in, do their inspections, look at things send me video, blah, blah, blah. But yeah, I don't think it should have taken this long. I should have probably, you know, the buck stops with you, you know, your property manager, as good or bad as they may be. It's always up to you to kind of like drive things. So it's probably my fault for not getting on them faster and really driving them to to make this happen. So yeah, I just got to be quicker,   Michael: Quicker on the draw quicke   Tom: Quicker on the draw.   Michael, how about yourself.   Michael: So the big development project is starting to click into place with a bu