I do not care if you did 1 Deal or 100 Deals I need your Advice!

[Jonathon Nila]

What’s up BP Community of Friends! As always thank you In advance for the feedback, you have no idea! Okay where should I start? So I need your upmost honest opinions about my current dilemma. I was recently approved for a first time homebuyer program HFA of 300k with 3% down current location is Turlock California we are in a HOT Market and we are at its peak of very crazy home prices. I have $20,000 saved up. Oh and there’s more I have Family Out Of State and have talked to some investors and Agents who say it’s a boomin market of course I will definitely do my due diligence as far as verifying. But I am new to the investment game and have been reading tons of books and listening to podcasts trying to put the pieces together. If you were me would you pump the breaks and not purchase a property in a sizzling HOT Market With an HFA Loan?  Or would you invest Out Of State where the Numbers make more sense? If neither of these make sense to you give me your input on what does make sense in my current situation if you were in my shoes? 

[Caleb Heimsoth]

@Jonny Nila without knowing your goals, any advice is pretty useless.

1. Don’t buy out of state. Bad idea. I’ve done it, it’s a bad idea. Invest in stock market. Better returns. I’ve made 100 percent on my money with mild due diligence on some stocks in 3 months. With zero effort, and it’s entirely liquid.

Long distance if you get 10 percent that’s considered good. Usually you’ll lose money.

2. Buy locally if you want to househack. The current state of the market is irrelevant. It’s been a hot market for years. Likely won’t be changing anytime soon.

The last recession was caused by real estate. This recession wasn’t, hence the effect on real estate will be minimal