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Updated over 2 years ago on . Most recent reply

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Jimmy Rojas
21
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90
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Anyone saving liquid cash to invest once the crash comes

Jimmy Rojas
Posted

Im located in Phoenix, AZ and saving liquid cash to be ready once the crash comes, back in 2010  purchased a 1 acre property with a 4 bed room home (livable) in Phoenix, AZ for $50k out the door.

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Bob Okenwa
  • Real Estate Agent/Investor
  • Peoria, AZ
2,461
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2,512
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Bob Okenwa
  • Real Estate Agent/Investor
  • Peoria, AZ
Replied

I wouldn't hold my breath waiting for 2009-2012 prices here in the valley. If a deal pops up and the numbers work, buy it. You could be waiting for another 4-5 years to POTENTIALLY see a bottom if things play out like they did the last time, which I doubt but that's another story for another day.

Median home price is something near 450k right now. Not sure where you got that last property or what is was worth before prices declined, but I seriously doubt anything is going to be selling for 50k here ever again, let alone 1 acre properties with homes on them.

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