If you are a first time real estate investor or a seasoned investor, here are 3 key points I'd consider right now!
1. Home prices have decreased in most markets.
By about 20% in some areas! You can also negotiate again and you can add terms to your offers, inspections, financing conditions are back, which makes it a much less stressful purchase.
2. It's a long term investment.
Yes, interest rates are higher but this is temporary - your investment isn't.
Your principal amount is much less than it would have been at the top of the market. When mortgage brokers do the math with current monthly payments, you are paying a little bit more in interest but that will change.
3. The Rental market is HOT!
The rental market is very strong right now as there is not enough inventory.
Tenants find themselves bidding on rental properties and you have the opportunity to pick your best tenant.
We are now seeing some markets producing cash positive flow again which hasn’t happened in a very long time.
Feel free to download my pro-forma excel calculator that I share with investors.
You can add your own numbers when consider an investment property and see for yourself if it is profitable or not! Click here for the Pro-Forma Calculator!
Audrey
xo
Comments