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Updated almost 4 years ago on . Most recent reply

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Jameson E.
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Is now the right time to buy?

Jameson E.
Posted

I'm brand new to rental properties and listening to The Book on Rental Property Investing. I have a 400k preapproval with UWM but need to learn a lot more before I can buy my first property. But is now even a good time to buy? Looking for a 2-3 unit building and getting a property manager but I think Id be bjying high right now. Id hate to be upside down if the market turns around but also dont want to miss the chance to get in now incase prices keep rising. Is there any way to still find a good deal now regardless of how the market moves? Im looking for CF and to have the property paid down for me by the tenants.

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Jaron Walling
  • Rental Property Investor
  • Indianapolis, IN
3,866
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Jaron Walling
  • Rental Property Investor
  • Indianapolis, IN
Replied

The best investors are always buying but the rate at which they do so changes depending on market conditions. It's not a great a market to buy and deals are hard to find. You answered your own question. Get very specific about the deal and property(s) you're looking at or forget about it.  

If you're serious about spending money be smart about it and get educated first. That's like holding a loaded gun with no target in sight. 

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