Inflation, Interest & Inventory: The 2022 Conundrum

[Josh Howard]

Im trying to purchase my first SFR rental in OKC. 20% down, <$135k, C Neighborhood, 3bed, Near Turnkey.

Inventory is awful, as to be expected.

Interest rates are slowly inching up with the Fed expected to raise rates in a few weeks time

Meanwhile inflation has been CHEWING away at my cash for half a year and continues to accelerate. 

What on earth do I do? Wait for interest rates to increase and hope that the market will soften in a few months? Or just bite the bullet and purchase something a bit pricier to get my foot in the door and start leveraging. Its so painful to see my cash lose purchasing power every month so im feeling the pressure to get in quickly. Any advice is appreciated! Thx!