Hi, So I'm a general contractor in southern California and would like to start investing in rentals, I'm wondering if I should wait and see what this economy does or pull the trigger on a rental in the sub 200k range. Thanks for any input!
I won't speculate as to how the current economy will impact real estate prices in your area... but generally speaking if you find a deal that makes sense to you financially (ie you are achieving your target cash flow and return on investment) then I wouldn't wait.
I have my eye on a property that has 2 units on it about 2 hours away from my location, It's 97k plus closing cost and will need 5k of cosmetic work. Both units combined should rent for 1400 to 1500. Just a bit gun shy at this point but need to get my feet wet at some point!
Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
6y
@Ryan Dodson - go for it. Interest rates are low and prices will not soften in the entry level range. We are seeing now less inventory than we did pre-covid and the squeeze is pushing up prices!