Business Week 117 - Sell before buy?

Long-term plan & short-term actions

One of my business goals is to build a bit of a constant passive income stream. This is why I decided to buy an investment flat as a long-term investment with the plan to get some income from renting it.

However, the recent stream of events made me wonder if that ain't the right moment to actually sell it. Let me shortly present my reasons:

1. The real estate market has grown like crazy for the last couple of years and the prices skyrocketed compared to the average salaries across the whole world. We are already seeing some signs of the market cool-down in some countries.

2. Poland is getting ready for the next national program supporting buying flats with the help of the government which has already impacted the evaluations on the market.

3. We are in the second year of global layoffs - especially in the IT market. I mention IT here as we know that the specialists earn a lot of money and many of them invest the surplus in the real estate market.

Basically, it all sums up my bet that we should expect a bigger correction in the real estate market in the forthcoming months. This is why I decided to put my flat on the market with a ~20% price increase. Let's see where the market is really right now...

⏳ Time spent: 120 minutes (50%)

Plan for week #118

Start building the app in public