Surprise, AZ · Member since 2017 · 3 posts · 2 votes
I always wanted to buy a multi family unit like a 4 plex to start,but right now everything is so high Here in Phoenix … the question is should I wait till the market crashes
People have been calling for the crash of the real estate market all of the years I've been a real estate investor. That includes prominent real estate investors with large portfolios. Watch what they do, not what they say.
Many of the big time thought leaders saying the market is about to crash are still happily buying properties.
I don't know anything about the Phoenix market, but I've quit buying in California and started looking into out of state, cashflowing markets recently as almost every property I've run across in California has rents that barely cover the mortgage (not even enough to pay for a property manager). Since there's rent control, it'll take years to get to market rents. They're still selling though, so obviously there's still ways to profit from them (Cali appreciation, paying tenants to leave, waiting years to get to market rents, etc.)
Anyway, you're not the only one concerned about their local market.
I don't know anything about the Phoenix market, but I've quit buying in California and started looking into out of state, cashflowing markets recently as almost every property I've run across in California has rents that barely cover the mortgage (not even enough to pay for a property manager). Since there's rent control, it'll take years to get to market rents. They're still selling though, so obviously there's still ways to profit from them (Cali appreciation, paying tenants to leave, waiting years to get to market rents, etc.)
Anyway, you're not the only one concerned about their local market.
People have been calling for the crash of the real estate market all of the years I've been a real estate investor. That includes prominent real estate investors with large portfolios. Watch what they do, not what they say.
Many of the big time thought leaders saying the market is about to crash are still happily buying properties.