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I've heard of waiting until mortgage rates are at or around 10 percent, buying a home because when mortgage rates are high, prices will go down, and later refinancing. I have yet to wait and save up money. Is this one of the better ways to buy a home/multifamily?

Why should I buy now instead of a little on down the road when prices go down and intrest rates go up? Any insight on this?

Thanks again Cmacone.

I also tried searching for the book and nothing is coming up for the title. Do you have an author's name?

The speaker told us that Rich Dad Poor Dad is a good book as well as Nothing Down for the 2000's. Can anyone vouch for them before I pick up a copy from amazon??

Any other books recommended to learn about mainly the step to step process on financing, paper work I would need? Real estate Laws? Or books on just multifamily (3-4 family) properties?

I am not yet comfortable to get out there and jump in while I'm still learning the basics, I don't want to waste anyone's time (i.e. Brokers, Agents, Sellers) until I grasp the concept and do some more homework. I know that I'm interested in multi-family homes on account of my situaiton living with the parentals right now and hope to get a triplex or duplex at the least and have it be owner occupied. Any info/feedback is greatly appreciated.

One question I had was about closing costs. What consists of closing costs and who usually pays them? Can the costs be added to the loan?

This particular meeting was at CCSU in New Britain. But they usually meet in Cromwell I believe. Maybe I will see you there sometime.
http://www.ctreia.com/ is the website.

The speakers were okay. Not sure what to expect but they did not cover all that was supposed to be covered. It was more like, What did we want to know and he gave a short overview of each topic. It wasn't as beginner friendly as I thought. Everyone was talking in abbreviation and real estate lingo. I was more interested in what people around me were saying than the speaker.

I didn't see any reason to let them know I found them through BP but I will let them know.

Just got back from my first meeting, I'd have to say I'm pleasantly surprised with the amount of knowledgable people that come to these things. It isn't the blind leading the blind. Met some nice people and felt welcomed even though I felt a little undressed as well as being the youngest one in the room. It is safe to say people were happy to see me there. (A lot of "I wish I were your age when I started")

Basically having the orientation be free, I felt it was worth an hour of a half of my time if not just for the information, than think of it as being an opportunity to meet with brokers, agents, and fellow investors for insight and additional info. Looking forward to attending more meetings.

Thanks for all the warm welcomes. I took Cmacone's advice and I just found out about an REI club New Investors orientation that is scheduled today. (What are the chances) I already registered and I'm excited to go.

Hello all.
My name is Phu and I'm 19 years old. Currently living in Connecticut for about 10 years now. I work at a Banana Republic store where I just got promoted to a stock supervisor and I love my job. I've been interested in REI for quite some time now and have picked up a few books from the library and bought some from book stores and haven't been able to put them down. Looking forward to learning a lot from the veterans as well as the fellow newbs.

Current Status:
About 0 Dollars to my name
-Credit score of 730
-Pay off all of my credit cards in full every month
-Living with my parents
- Decided to take real estate classes at local college