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All Forum Posts by: Rehan Uddin

Rehan Uddin has started 1 posts and replied 2 times.

Quote from @Greg R.:

Welcome to BP Rehan. I know your eager to get in, but given the market conditions I would strongly consider hanging on the sidelines for 4-6 months or so. Buying at a very high price & with rates at a 15 year high is not a good recipe for a new investor. 

Rates not likely to improve but prices are already starting to soften. However, they're still very high, but the writing is on the wall. My advice would be to move there and get a short lease (6 months), learn the area and figure out where you want to be. This will give the market time to adjust downwards which will give you a much more favorable buying condition.  


 Hey Greg, thank you for responding and sharing that advice. A short-term lease may be a great idea to get my feet on the ground while house hunting. I just hate the idea of paying rent there but I'll keep your advice in mind! And with the rise in interest rates, I'd imagine you're right and housing prices should soften a little. 

Hey Everyone,

So, this is my first post in the BiggerPockets forum, and I want to start off by thanking you all for all of the insightful conversations in the forum. I have been looking buy my first home (Househack) for over a year and now I'm finally forced to pull the trigger because my job is requiring me to move, and I don't want to pay rent. So, I'm looking in the Worcester, MA area to buy a single family or multifamily home. Ideally, I'd love to do an FHA loan, but I know how tough it is with all of the inspections you have to pass to get that loan through. I can also afford to do a 10% conventional loan (for a single-family home) which is what I'll most likely do. I would love to speak with someone with some experience and mentor me throughout this process. Currently, I'm going at this with a friend who also does not have any experience and it's all a bit overwhelming. Also, it'd be great to speak with someone who lives in the MA area who can provide some insight into the Worchester area. Thank you all in advance and any conversation would be helpful.