Starting Out with High Home Prices

[Steven Wetherill]

Hey everyone,

My wife and I are in the early stages of purchasing our first rental property. We're kicking ourselves for not buying last summer before the home prices rose. The budget that would've gotten us a nice, turn-key property is now getting us some really run-down homes that require a lot of renovations.

I'm wondering if we should hold fast until the market calms down (if that actually happens) or if we should increase our budget to get the rental we want.

Will this housing market come back down or should we start adjusting to this new reality??