Now a good time to invest in rental investment properties?

[Spencer Herrick]

I've finally put aside the capital to invest in my first property rental investment property. With interest rate hikes and inflation on the rise, I question if it even makes sense to make this kind of investment at this time. How will the direction of the real estate market coincide with renters? What am I thinking too much about and/or not enough about? Will rental income go down as the real estate market goes down? I know these are somewhat loaded questions, however this is what has had me scratching my head the past few months.

Thanks advance for any pointers/advice

[Jim Wellington]

Don’t wait to buy real estate. Buy real estate and wait. 

If you’re looking to hold real estate for the long run then you should definitely jump in. In my market there are buying opportunities for fixer upper properties. The nice turn key homes that are remodeled are still selling relatively quickly and for good prices. Conversely the fixer uppers are being forced to cut their prices and in some cases drastically. These present you with great value add opportunities for you. You can buy the homes under value and rehab them to achieve higher values. 

I’m in Metro Detroit.