Where to go from here???

[Jared Palacios]

Hello all BP friends, if you are reading this post I personally thank you as all opinions are appreciated. My family has recently moved to the Sacramento California area within the past 18 months. Leaving Las Vegas in the rear view, I still have a few investment properties there that have fairly low Mortgage Loans and Cashflow nicely. I currently pay $1550 a month in rent for a 3/2/2 house. The market here are starting to pop up way more homes for sale then sold in the past 60-90 days. Are rent is really a great price, and my landlord has asked if we are interested in buying but at a 330k price tag knowing how much updating it needs is hard for me to pull the trigger. I would rather downsize and try to find a home off market below ARV. But given the average rent for this home in my area would run $300-$400 more per month I am stuck with do I move and purchase and receive all the tax benefits from ownership? Or - Do I stay put and wait the market out and try to purchase during the slower months in November and December and try to get a mortgage that's lower then my monthly rent now? I know the price at what you pay, appraised value, and adding equity are all factors to be taken into account. But if you have ever been in my position and have some personal experiences to relate I am all ears...

Thank you, Jared