Market Update: Redfin…

Transcript:

Redfin just pulled their iBuying program.

They just laid off 30% of their workforce, 862 employees, and a few weeks ago, OpenDoor did the same thing by reducing their workforce by 18% and laying off 555 employees.

Now, we know last year, Zillow got out of the game as well and their iBuying program and they are out of business.

When it comes to ibuyers, what does that tell you Value Driven Investors about their business plan? What does that tell you about having millions and billions of dollars and coming into markets and thinking you know what you're doing?

Real estate is local. It's been that way since the dawn of time. If you've got feet on the street if you have experience if you've been through 2008 like I have when the markets were going down values and real estate was going down and you still were able to manufacture profits.

Well, then now is a perfect time, because without these big conglomerates in the game, without so many other investors in the game, not knowing what to do in this uncertain time, there is going to be more market share.

There are going to be more opportunities than ever. In our next podcast episode on the VDI podcast.com, we're gonna be talking about exactly this