I'm new to investing but have loved listening to bigger pockets for years and am ready to pull the trigger on a HELOC and begin my investing journey. I can probably get around 80-95k on a heloc.
I know nobody can time the market but to me it feels a bit as if the sky is falling. Proposed government regulations, renters not needing to pay rent, uncontrolled inflation. It seems as if there a shadow of foreclosures ready to happen once the rug is pulled out of people who have not been able to afford there properties.
Being me I just want to get started and buy something if I can find a deal but in your experience do you feel like now wouldnt be the most wise time to buy. What are all your thoughts? I know you cant lose too bad if you find a great deal and hold but is anyone else getting stuck just waiting for the drop that may or may not happen haha. What are you doing? Thanks
Garrett, yes the market is tight right now and prices are up. But a deal is a deal is a deal. Right now, the issue facing everyone, is finding those deals. If the numbers are to your liking, why not buy? Just be sure to run them carefully and make sure what you're getting is truly a good deal. We just ran across a 3 bed for $75k and that includes the rehab costs. The rent is $1100 a month, so it cash flows very nicely. It also beats the 1% rule. It's slightly above 1.4%. Best of luck to you.