Buy duplex now or wait?

[Brandon Drzewicki]

If my numbers make sense (Ie estimates at $1000/mo cashflow after expenses) is it wise to buy a duplex right now with rates at 6-8%??? Should I wait until spring? 

[Greg R.]

Quote from @Brandon Drzewicki:

If my numbers make sense (Ie estimates at $1000/mo cashflow after expenses) is it wise to buy a duplex right now with rates at 6-8%??? Should I wait until spring? 

Without knowing the details of the deal, it's impossible to know. I'd strongly recommend not paying a peak bubble price & a crazy high rate. With rates where they are now, I'm not going to pay anything higher than 2020 values. There are a ton of disillusioned sellers that think that we're still at the peak of the bubble and that rates are still in the 2s. If you buy with those conditions you're going to see that same deal 4-6 months later for a way lower price. 

You can refi out of a high rate, you can't refi out of a high/ inflated principal balance.