Disclaimer; both surfing and real estate are very dynamic and have many factors. Both are difficult to be good at. Reading this article should enlighten you to the similarities and help you put things into persective. It will not make you good at either. To do so requires a concsious pursuit of knowledge, and practice.
As any surfer knows, one of the most important factors in the sport is position. First of all, every beach does not break the same. There may be great waves at one spot and nothing to ride at all a few miles down. The same is true in the real estate market. Depending on market conditions and other economic devlopments in certain areas, there may be a ripe market for deals in some places, but not others, even in the same town. One segment may be hot, while another is cold. Smart consumers and investors have to know where the opportunities are and why they are there.
There are many ripe market segments in Southeastern North Carolina. Almost every type of buyer can find good deals and opportunity. There are great homes available for the primary resident. Investors can buy rental houses that cash flow, however the financing for these are a little more difficult, but sometimes creativity can help make that work. Also, there are some great neighborhoods going through revitilization, providing perfect flip houses. Southeastern North Carolina is somewhat of a resort market, so it is very attractive for people to relocate. We have lots of room for growth of our local industry, which is good. We have beaches, and we have waves (most of the time).
Back to position; once a surfer is in the water, he/she has to be in the right spot in relation to where the wave is breaking in order to catch it. The bottom of the ocean has sandbars, which cause the wave to break in certain places. Plus, depending on the tide, waves break closer or farther from the shore. Carefully studying the patterns of the ocean helps a surfer know which are the right places to be.
Players in the real estate market need to be very concerned with their own positions. This includes the amount of money they have to apply, the time they can put into the deal, the relationships with people involved, life situations affecting the deal, and experience levels. Knowing this position helps determine which moves should be made. If a buyer doesn't have a lot of time, experience, or good relationships with contractors, it's probably not a good idea to get into a flipper. If a family is looking to move but has a home to sell first, putting a new house under contract does not put them in a good position. People get burned because they fail to put themselves in the right position to prosper. Others master this skill, and they are very successful.
Just like surfing, real estate is an art and a science. The science involves studying the patterns, and factors that cause effects. For surfing, its learning what storm systems coming from which directions, with which winds, cause which places to produce a great ridable wave, at what tide levels. With real estate, its knowing when to buy and when to sell, what development in the area is helping improve the area, how are rates contribuing to the market, what are the housing trends, what makes a good deal.
A master of the art of surfing would instinctively paddle and sit in the perfect spot, go for the wave and stand up at the perfect time, make beautiful lines and symetrical turns in the water, pull off stylish tricks when the opportunities present themselves. Most importantly, the act of surfing brings him/her joy. It helps him/her wash away troubles, provides solitude and allows for clear thinking, and emotional expression. To a master surfer, a wave is a canvas. After a good session, the master emerges from the water refreshed and ready to face the challenges life presents.
A master of the art of real estate is constantly learning how to play by the new rules as things change. He/she knows when conditions are right to buy or sell, understands how to spot deals in his/her segment niche, and knows how to structure deals that are profitable. He/she talks to talk and walks the walk. He/she nurtures relationships with the people who help facilitate transactions (because it truely is a team sport). The master is readily available to take advantage of opportunity, and has a great lifestyle which is supported by his/her mastery of real estate.
Go surf!!! Play the real estate game in Southeastern North Carolina
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