All Forum Posts by: Scott Huff
Scott Huff has started 2 posts and replied 3 times.
Post: Investing in overpriced markets
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Quote from @Greg Scott:
Quote from @Scott Huff:
I see that homes in that area are estimated to be ~30% overpriced
I'm very skeptical of the above sentence. I've never seen anyone that can accurately tell you if a house, stock, precious metal is going to go up or down. Who decided it was 30% overpriced? What criteria did they use to decide that?
I'm never a fan of over-paying, but some markets have remained "overpriced" for decades. Just look at California as an example.
When I look at an investment, the question I ask is will it deliver the returns I want based on what is known, ignoring speculation. Since you are looking at a house hack, the "knowns" are usually much more favorable. After all, you have to live somewhere. Are you better off paying rent or buing a triplex and renting out two units. Almost certainly the latter. What if it is true that the market is 30% overpriced? Does it matter if you essentially pay nothing for housing for a year, or 3 years or 10 years?
Don't let fear stop you from making a decision that can improve
Thanks for your response and you make some great points. I’ll keep them front of mind moving forward
Post: Investing in overpriced markets
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I am looking to do a house hack in the Tampa/st. Pete area in the next 4-9 months but have been watching supply and days on market steadily increase and asking prices drop on a weekly basis. I have been able to find deals in the current market using the BP calculator that fit my buy box, but when I see that homes in that area are estimated to be ~30% overpriced and am watching in real time prices drop it leaves me unsure what to do. The main worry being that a good deal made today may not be a good deal tomorrow. My current plan is to take my time in finding a deal that either offers great concessions or that can be negotiated down in order to make up for a possible price drop in the future. In summary, any advice on how and when to invest in a market that is not showing a lot of strength? Thanks
Post: Best neighborhoods, duplex, near Boeing
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I'm looking to transfer to the Boeing factory in San Antonio early 2024 and want to house hack a 2/3/4plex. Curious what neighborhoods within 1-1/2 hrs range hold the best opportunities for this for me to look into (the closer the better). Any other advice and insight into this would be greatly appreciated. I'm also open to single family homes with ADU/mother in law suites. Thanks