Quote:
Originally Posted by StorytellerStealth
Genius most everyone buys at the top of the market. If you already have a mortgage, higher mortgage rates will not affect you. History has shown if you are in for the long haul buying a house, you will not lose money.
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Funny....Out of the last 3 houses I purchased, two were purchased at the bottom of the market....the Bay Area house in the slump of '97, and the big house in Fresno in the depression of 2011.
I got the house in Fresno because the people who bought it in '06 on a Jumbo loan with an adjustable mtg. defaulted.
I paid less than 50% their price for the home. And it has tripled in value in ten years.
I have always bought property when the 'window of opportunity' opened and I was in the market and had the means. It's never not worked out.
I almost bought 3 more rentals in 2011 because it was easy money but let it pass because I didn't need the $$$ or headaches going into my 50's.
Egah is a baller and has no real worries anyway.