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Any Property Management recs in Seattle area? :(
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You just need to tweak the UW math to get to the right balance in all the assumptions and come with a fair equity to make it work
This is a very consultant answer.
Subject Expert
Many are doing 25% or 30% down, with plans to add value and refi when rates come down.
Even if you break even for 6 to 12 months, the general consensus is to buy now and refi later than to rate for rates to drop since prices will likely climb fast when that happens.
F
Watch yourself, counselor
Coach
If you pay cash they are more likely to cash flow
Well, yeah, but there’s no more money to do other things, and you’re stuck with smaller projects. With rates as they are, if you are sitting on dry powder, as they say, you could do it and wait to refi. But the issue is cap rates are up, but prices haven’t gone down. This, to me, is because of a lack of inventory—no one is selling. And I don’t expect any sympathy, but I’ve got a bunch of loans that need be refinanced in December. I’m just waiting for the next election. But I know I won’t get my 4.25% next time around.