All Forum Posts by: Dominic Rosato

Are we currently living out Warren Buffet’s famous quote - “Be fearful when others are greedy and be greedy only when others are fearful” ?

It seems like everywhere I look, I’m reading about how unaffordable housing is in the US (which I’m not disagreeing with), but it’s got me thinking about this quote. Competition is low and people are DEFINITELY fearful.

Is it smart to be greedy right now? For the people waiting on the sidelines for interest rates to go down, should they be jumping in, assuming they have the money to?

**I understand it’s a loaded question with no right answers, just curious to hear other investor’s opinions.

Try not to linger the mistake - be great full you found biggerpockets, the best FREE education source in the world on real estate investing. The books they publish are also phenomenal. My advice though- learn what you can and take consistent action everyday. All of the education in the world can’t help someone who can’t take action. 

House hacking is absolutely still a thing! Don’t let the media tell you otherwise. Stay determined and reach out to professionals near you to get started. They will quickly help you realize what you can expect. Also- $120k in liquid cash is a LOT more than most investors start with - I’d say take your opportunity and run with it :)

Unless you're dead set on paying off your student loans in one swoosh, I'd consult your lender on the best course of action. At first, my girlfriend and I had the same thought process, but our lender helped us realize that paying off our student loans would actually move us backwards in terms of our RE investing goals. In other words, the cash was much more useful as a downpayment rather than paying down student loans (that had a low monthly payment anyways).

We had a great lender guiding us through our first purchase (ended up house-hacking in Jersey City). I'd be happy to connect you to him!