Buy & Hold Investing in 2021
Hello all, going into 2020 my wife and I were all-in on buy & hold duplex, triplex, etc properties which as served us well. As of today though, we are really rethinking that strategy as home prices are out of control (at least in Maryland). Sellers are putting properties on the MLS which would normally be off-market deals because the housing market is so high. It seems deals are harder to find at this moment due to that. We are also running into the fact that many are out of work and unable to pay some or all of their rent. Out of 17 doors, 4 of our tenants are struggling.
These factors are contributing to us looking for different strategies or possibly not investing for the time being. I do not believe these issues will last long but the immediate future is very uncertain. I guess it depends what is propping up the housing market and when the pandemic will end. We know the housing market will drop back down to normal or below normal levels which is when an investor wants to buy. The bigger wildcard is the pandemic and people being able to go back to work.
Has anyone else thought about these things and changed their strategy in 2021?