After the housing market slow-down in 2022, which markets will shine in 2023?
With mortgage rates almost doubling since the beginning of the year and home prices continuing to rise due to low inventory, affordability remains a big concern for buyers. Read the 10 best real estate markets of 2023 in this article.
One piece of advice I’ll give is to stop looking at what’s right in front of your nose.
Whenever we talk about strategies that work, people that built wealth, it’s people that took a long-term perspective.
The people that made money in real estate did it over a span of 20-30 years.
They didn’t buy a house and when one fence board broke, they thought, “Ah, this isn’t worth it. There’s an expense I didn’t know.”
They played the long game.
So stop zooming in on what’s happening right now or trying to figure out how to get the perfect deal or wait for the perfect market.
And then 10 years go by and you still haven’t bought a property.
Then, you lose out on hundreds of thousands of dollars that you could have made had you just found the best deal you could in the situation that you were in.
2023 is right around the corner which means it’s time to set your goals.
But as you’re setting your goals for 2023, it’s important to note that picking your goals is sometimes even harder than hitting them.
I remember when I was new in GoBundance, the first time I heard someone ask, “What do you want your life to look like?”
And it was hard to answer that because I didn’t know what I wanted my life to look like.
I just knew that I didn’t want to work 20-hour shifts as a cop. And I was very good at saying what I didn’t want.
But it’s more important to come up with what you do want.
One of the pieces of advice I’d give to people who are trying to figure out their goals is to start with what’s causing you pain.
“I don’t want to work 20 hours a day.”
Why are you working 20 hours a day?
“Because I’m doing A, B, C, D, E, and F. I want to keep A, B, C, and F. I’m okay to let go of D and E, but I need to hire someone to do it.”
Now, we’ve got a want. Your want is to hire someone.
Now you can work backward from there by actually coming up with a strategy and action steps you can take to hire somebody.
This is a good overall approach to getting started.
Tonight at 5 PM PST, I’ll be going live on YouTube to talk about the Zillow Housing Predictions for 2023 that were released and what to do in 2023 to succeed in real estate. Don’t forget to set a reminder in your phone for 5pm PST! Come join and ask me questions!
Are you interested in joining a league of like minded people committed to saving money and developing financial independence? Keep an eye out for David’s next educational product, the Spartan League.