If you are someone that struggles with Analysis Paralysis…This was written with YOU in mind.
I have so many good friends and family that WANT to get into real estate investing and they talk to me every time I see them about how ready and motivated they are to buy “the next great deal that comes along” and when I bring them a home on a silver platter that checks every single box…Guess what? They proceed to list all of the reasons why they can’t do THIS house. Oh um, the timing isn’t right, I am just getting my ducks in a row, I need to understand the market a little better, I would do it but my spouse is the skeptical one…And the list of excuses just keeps getting longer.
Let me be very straightforward in the hopes that this will put those of you at ease who are sitting on the sidelines with the money in your bank account eroding by at least 5% inflation…
Real Estate is one of the only investments that BENEFITS from INFLATION! These two have been slow dancing together since the 70’s and things really heated up over the last few years when inflation skyrocketed along with home prices and rental rates Nationwide.
Inflation BENEFITS real estate. Yes, you read that correctly.
Here are the top 3 reasons why this occurs:
- Rents go up faster over time
- Property values go up faster over time
- Inflation erodes the real cost of your debt as you pay off your mortgage in inflated dollars
Quick Suggestion with Interest Rates:
Consider using an ARM (Adjustable Rate Mortgage) when buying your investment property in 2023. You could drop your rate by as much as 1% and mortgage rates go DOWN when a recession hits. When that happens you can lock in a lower rate.
Avoid Analysis Paralysis:
If there is one thing I have learned with real estate investing, I ALWAYS feel like I am paying a little too much. Even when I was buying homes in 2010 I distinctly remember conversations with buyers who would scoff at a home price of $100 ft! Had I sat around and waited to start buying real estate until it went down just a little bit more, I would have NEVER bought a single property.
Get off the sidelines and get in the game. 2023 is a uniquely good time to buy real estate.
We have several properties coming soon that are in the process of being remodeled.
If you have money sitting with your bank or in a 401k, it’s time to put that money to work.
HOW TO BUY YOUR FIRST RENTAL PROPERTY IN 2023!
