Start now or wait???

[Dalton Ertz]

My wife and I are wanting to get into real estate investing as soon as possible. Our market is in Alaska in the Anchorage and surrounding areas, which is pretty hot right now along with the rest of the US. We both have good paying jobs and we're currently renting for 900/mo. Our short term goal is to owner-occupy a multi family property using an FHA loan.

My question is, would it be better for us to hop on a property that will basically break even or have negative cash flow, vs waiting to find the “right deal”?

Pros:

- gaining equity

- learning property management sooner than later

- the property would cash flow after we moved out in approx. 1 year and could rent the owner occcupied unit.

- we’ll save $900/mo which is our current rent expense

Cons/unknowns:

- market is obviously high

- negative cash flow until we move out and rent our unit

- not utilizing FHA benefits to the maximum

- the “right deal” may never come

Any input is appreciated!