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What is happening with the market???
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Feels like things are cooling off a lot. Personally I’m waiting another year and getting some cash ready but on the flip side may see higher interest rates. Interested in hearing other people’s thoughts
Given you want a multi family I would say go ahead and buy. In your decision don’t forget to consider a higher interest rate on your future loan cost, the expenses of your current rent and missed profit of the multi family units if you wait.
I’m assuming your goals here but I imagine you don’t plan to sell this place for 15+ years so ultimately getting in sooner rather than later (at a potentially lower price) is probably best. Two years of experience owning a multi family can be looked at as the “costs” if the value does fall during the next two years.
I’m pretty sure this is a buyer’s market right now.
LA, SF