Is this the right time to start out? - Posted by Prashant
Posted by Prashant on April 11, 2006 at 01:15:14:
I’m looking to get started in RE investing. I was thinking of getting started with a 4 unit owner occupied residentail property. That way, I can get a high CLTV (hopefully 90-95%). Unfortunately, the properties in the area I live in (Southern California) are extremely overpriced (4-5 cap rates). So, I’m thinking that I should wait a year or two until the market is in a downturn. I really do believe in the concept “buy when no one wants to buy”. But that means a long wait. There could be other risks in waiting - like the lending may get very tight. What would you do?