It wasn’t their fault, but I don’t know if there’s anyone in the history of finance who lived in more of a fantasy land than 2021 real estate investors born in 1994
I know a few real estate investors who've lived in fantasy land their entire careers that were born before 1990. And even more civil engineers.
James Hughes
2w
Better to have lived and lost than to never live at all!
John Neet
2w
My first job in real estate started in 1978. I have been in this world ever since. Not much surprises me other than people who believe that we have solved the cyclical nature of real estate investment.
It wasn't really a fantasy land - it was real. I'm a little older and started few years earlier, but all homes I bought in 2020/2021 are still enjoying super low interests, while rents have risen, equity has grown tremendously and I even refi-ed one to buy one more. It was an opportunity that some grabbed onto and some missed. It's just not long-term sustainable, but wealth created is very real.
Mac Shelton
1w
I was born in ‘95 and we bought our first syndicated deal in 2021. You had to be extremely disciplined, maybe to the point of being overly pessimistic, not to get swept up in the market. Every deal we’d bought prior to that as personal investments was a home run, mostly due to factors outside of our control. A lot of investors let that go to their heads and are suffering now as a result.
It always comes down to access to capital and exposure to pitfalls. Timeline checks out.
Jason Radzik
1w
It was also plenty of first and second time investors born much earlier. They are now jaded and afraid of the asset class especially with tech stocks, bitcoin and other assets going up over the same time-frame. They will only jump in again when FOMO hits again which is exactly the opposite of what they should have been doing all along which is staying the course and learning from mistakes.
David Schwed
2w
Phew I was born a bit before 94... Yeah I'm talking to owners on a daily basis (about Title) and some thought this ride wasn't gonna end. Others who bought earlier still have assets that they are maintaining.
The 2021 real estate market was a perfect storm of low interest rates, high demand, and limited supply. It's easy to see why investors born in 1994, who were just starting to build their portfolios, got caught up in the frenzy.
CEO & Founder of Skyline Real Estate, A leading manufactured housing operator in the Western Regions of America
2wI was born in 1980 but still enjoyed being a part of the fantasy world.