Rental Property Investor · Pinehurst, NC · Member since 2020 · 13 posts · 4 votes
I have been looking to get into real estate as a side hustle. My wife and I make a pretty good living but we are just looking for some passive income on the side. Because of this we don't have to rush into any purchases to help put food on the table.
For the people who have much more experience in real estate than I do, and have been doing this much longer. What is the general concesus on the current market prices (I know this can vary by location, but I am in Pinehurst, NC)
Do you think we are in market peaks and due for a recession in prices in the near future or is this just appreciation as usual? Meaning if I dont buy now prices will just be higher again in a year?
Rental Property Investor · Member since 2018 · 18 posts · 7 votes
5y
@Josh Falk I'm not an expert but do have some experience. I think of it like this, there is generally a correlation to high prices and lower interest rates.
The same goes for lower prices and high interest rates
If someone waits til house prices are lower there's a very good chance you'll be paying higher interest rates.
So your mortgage payment may very well end up being near the same amount on a 100k house w 10% interest and the same house for 300k w 2% interest.
Unless you're buying all cash of course. Dnt take those numbers literally, but just as a thought experiment. Hope that helps