Coming out of the pandemic we've seen a lot of inflation in prices due to both a restriction in supply AND a surge of demand. Lumber prices skyrocketed to triple their normal average price. Raw steel also rose about 25%, pushing prices on everything from screws & nails to plumbing fixtures up with it.
My guest Lou Brown has been investing in real estate for over 40 years, so he's forgotten more information than most of us have ever learned. He's been through 5 market cycles now, so he knows how to pivot and weather the storm. But, he's got some bad news for us… Lumber prices may not be stable for long, and even worse there are other material costs that are just beginning their upward trajectory.
To help us all achieve the level of success Lou has attained, he is graciously giving away his book (a $25 value!!) to REIClub members. Go to reiclub.com/loubuyholdsell to get your free copy shipped to you.
What We Cover:
- Are lumber prices back to normal for the long term?
- What other labor & material costs do we need to keep an eye on?
- Why should you offer seller financing for your properties?
- How wholesalers leave hundreds of thousands of dollars on the table