Flipping Fumbles - Even the Big Guys stumble some times
In an incredible turn of events yesterday Zillow announced they will be winding down their Zillow Offers program, at a huge financial loss.
According to published reports, Zillow expects to lose between 5-7% on the sale of this inventory. Imagine loosing 5-7% on 18,000 homes!
What lessons should we learn as real estate investors from this major misstep?
As smaller investors competing with big players like this, it's even more critical to know your numbers and not get caught up in the emotion and the hype of competition in a tight market.
Solely relying on algorithms has now been proven to be a multi-billion dollar mistake.
Nothing beats having a local team on the ground!
Prime Valley Realty is local to the Hudson Valley We have real estate experts with hundreds of successful transactions. Our team uses big data and local knowledge to submit an educated analysis to our clients.
If you are a Real Estate Investor and are interested in deals in the Hudson Valley region of New York, whether you're local or out of state, contact us here and let us help you rationally compete for your next deal.