Just bought a home 2 months ago. Am I in trouble
Ok so I just purchased a rental property in cash and put 10% down on my primary residence in January. With the upcoming real estate crash and economy in general how scared should I be from a value of my property perspective. I have money to pay my mortgage for at least a year and my rental has a new tenant who's job isn't in jeopardy. Not to concerned about that I'm concerned about buying at the peak of the market. Am I screwed?
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I purchase for cash flow so the value of my property at any given point doesn't really matter to me. Was this a flip or a buy and hold?