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User Stats

13
Posts
6
Votes
Adoney Reid
  • Rental Property Investor
  • San Deigo
6
Votes |
13
Posts

Time In or Timing the Market Scenario.

Adoney Reid
  • Rental Property Investor
  • San Deigo
Posted


Hello guys my name is adeony and i'm considering buying my first property this year. i'm would appreciate the communities perspective and input on the following question below.

Property Criteria; 

House hacking duplex or triplex 

Purchase price: 260k - 310k

Equity or Cashflow deal ? Ideally Equity 

State: Somewhere Southern which is in close proximity to my home country Jamaica (Florida, Georgia, Texas) 

1 . Purchase property at today's current rates and relatively lower property prices then Refinance when rates drop. 

or 

2. Wait on rates to return to 3-5% range the buy property at a premium.

User Stats

2,273
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2,940
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Nick C.
Pro Member
  • Specialist
  • Tampa, FL
2,940
Votes |
2,273
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Nick C.
Pro Member
  • Specialist
  • Tampa, FL
Replied

1. As long as you can get positive cash flow at today's rate purchase now. 

2.  There's no guarantee that rates will ever return to 3-5%. It could take many years, don't be like the "investors" I know who have been sitting on the sidelines since 2016 waiting for a market crash that never came. 

User Stats

37
Posts
27
Votes
Neil Ginty
  • Architect
  • Bay Area, CA
27
Votes |
37
Posts
Neil Ginty
  • Architect
  • Bay Area, CA
Replied

Rates were low because of 2008 crash and the pandemic, two once a century shocks. Don’t bank on them getting lower. Aim for some cash flow, or a market where appreciation is likely (pop & job growth, etc.). But do you own underwriting assuming they won’t change - and be happy when they do!!!

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User Stats

13
Posts
6
Votes
Adoney Reid
  • Rental Property Investor
  • San Deigo
6
Votes |
13
Posts
Adoney Reid
  • Rental Property Investor
  • San Deigo
Replied
Quote from @Nick C.:

1. As long as you can get positive cash flow at today's rate purchase now. 

2.  There's no guarantee that rates will ever return to 3-5%. It could take many years, don't be like the "investors" I know who have been sitting on the sidelines since 2016 waiting for a market crash that never came. 

 Great advice ! Thanks @Nick C.

User Stats

13
Posts
6
Votes
Adoney Reid
  • Rental Property Investor
  • San Deigo
6
Votes |
13
Posts
Adoney Reid
  • Rental Property Investor
  • San Deigo
Replied
Quote from @Neil Ginty:

Rates were low because of 2008 crash and the pandemic, two once a century shocks. Don’t bank on them getting lower. Aim for some cash flow, or a market where appreciation is likely (pop & job growth, etc.). But do you own underwriting assuming they won’t change - and be happy when they do!!!

 Never thought of it from this perspective. Thanks much ! @Neil Ginty