Investment Real Estate

[SuzeOFan]

Does anyone here plan to buy investment real estate or vacation property? What are your thoughts on what and when is the best time to buy?

[34saving]

Here in MN it's definitely late fall/winter. Most people are saying hang on for the next year or even two and take a look at the market again. I guess most think changes in the negative direction are a brewin'. We're already seeing those changes in unsold inventory . . .

[SuzeOFan]

Thanks 34.

Most property here in PA is still pretty high.
There's only been very modest price re-adjustments here and there since the rise in rates. And even that - may only be due to more 'motivated' sellers.

The summer typically seems to be the hottest time for both the weather and selling, and I wonder if (like you say) prices wouldn't 'cool' down with the cooler weather in the fall and winter? Seems to make sense.

[jmjj215]

I plan on owning a few multi-unit properties in the next decade. The tax benefits are hard to beat. I'm going to do it w/ very little leverage, as I'm pretty debt-averse.

[SuzeOFan]

JMJ - That sounds like a very good plan!

Our problem is we really like the idea of a vacation home. One that we could rent out as a seasonal to offset the costs. You'd never have to worry about evicting anyone. (Only the damage they might do!)