Buying a first home

[Dov Klitnick]

Is Now a good time to buy my first property or is it worth it to wait till the housing moratorium is up,cuz right now people are offering high prices on propertys i just don't want to be the person on the said wating for the right time and it never comes cuz prices just keep going up.

[Charles Carillo]

@Dov Klitnick

Eviction moratoriums are a real problem for some landlords but with prices this high now; I do not really see them coming down once the moratoriums are lifted (unless there are other changes in the economy). If you are purchasing a property with tenants in it already (inheriting tenants) you need to verify that they tenants are paying and you need to do your due diligence on them during your inspection period; especially in tenant friendly states (i.e NY). Prior to moratoriums in landlord friendly states, we did not mind too much if the tenants were potential issues because it was fairly easy to evict; not anymore. You need to vet tenants like you are giving them a mortgage.