Purchasing a home in the current market

[Devin Ellinwood]

Is it a good time to purchase a buy and hold multi family property even when prices are so high? I would be an owner occupied investor but considering I’d be living in one of the units, i feel like my cash flow would almost be non existent after buying a property at such a higher price than what they were going for a year and a half ago. I live in Rhode Island. Any advice or feedback would be greatly appreciated. I really want to get started but don’t want to put myself in a terrible position right off the bat. Thanks !

[Nancy DeSocio]

Hi @Devin Ellinwood,

The market is absurd right now, but rather than the cash flow angle, another way to look at it is what your overall housing expense would be.  I don't know your current situation or your investing goals, but if you are currently paying rent then buying a multi family that breaks even or barely cash flows could still greatly reduce your housing costs.  As Anthony mentioned, it's all in the analysis, but owning an asset that other people are paying down could still make sense if you find a property that you want to live in.