Is the Fear leaving your market?


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We received this from a franchisee in response to our question about the market. This franchisee asked to remain anonymous, so we will respect the request.

His last paragraph includes a profound and exciting observation: "We are definitely seeing the fear leave the market."

What will happen when fear leaves the market? What will happen when fear leaves your franchise? This reminds me of a quote from Who Moved My Cheese: "What would you do If you weren’t afraid?"

Here is the note from the franchisee:

I just wanted to write all of you to let you know how we are doing.

  •  We are stronger today than we have been in 14 months.
  • We have reduced our overhead in the last 8 months by 20k per month.
  • We are spending 5k with HVA per month and we are sending 6500 dig lead letters per month.
  • Our buys have become much more profitable.
  • We have learned how to successfully rehab profitably (3 week turn around).
  • We have a waiting list of investors wanting to buy our wholesale deals (when priced right)
  • We have put our last 4 retail deals under contract in 35 days or less.
  • We sold 4 houses in the last 2 weeks. (81k net) plus we are assigning a house on Thursday for $6k.
  • This will be our most profitable 1st quarter ever.
  • We have paid down 42k in debt so far this year.
  • Our buys are down (we are working on that), but profit per deal is way up.
  • I feel very positive about the business and so do my employees and partner.

 We are definitely seeing the fear leave the market. In the last 2 weeks I have had three investors come to us looking for houses, two have 250k and one has 500k to spend. The interesting part is that two have never bought investment property before and one has not bought in 3 years.

 

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