Overpaying for a property

[Allan Turcios]

Hi everyone!

I wanted to know if any of you have ever overpaid for a property and what did you do to make it work as a good cash flowing investment? Did you stick with it or just sell and take the loss?

I’m looking to house hack with a 3.5% down but the market I’m in is making it extremely difficult to cash flow with prices rising and rents staying stagnant. Would appreciate any stories or strategies any of you may have. Thank you!

Best,

Allan Turcios

[Daniel Johnson]

@Tina Tsysh - not saying this will be the case this time around, but I bought my first property in 2007. Didn’t feel like I was overpaying, but for the next 10+ years sure remembered that I overpaid. I think you have to be smart about it. If it progresses your long-term goals and you have ways to mitigate the risks, it might be better to jump into it now, especially if real estate is really what you want to do.