All Forum Posts by: Yashank Choksi

"everyone is saying that now is not a good time to buy deals" - who is everyone and where are you getting this advice? I disagree, I always think it's a good time to buy good deals. Especially if the reason is "prices could fall in the next 12 months". That statement is always true, so by that logic you would never be able to buy anything.

I am no expert on pandemics, but I keep thinking about supply and demand. Supply is almost non existent in many markets (the ones people should be buying in anyway), and demand is outrageously high, especially for entry level properties that hedge funds are salivating over. This may change eventually, but until it does I just can't see how prices are going to drop.

Haha, I totally agree with "if the reason is "prices could fall in the next 12 months". That statement is always true, so by that logic, you would never be able to buy anything." That is just so accurate.

And Nick, Could you tell me more about the usage of a hedge fund in REI. I just saw one podcast of bigger pockets and there were also talking about that as a guy started in REI with the help of the hedge funds.

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Hey @Antonio Cucciniello, your points are true. I am only worried about prices to drop is that I've got a little money with me and I feel like if the prices drop then I might be able to buy a better deal.

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Originally posted by @Evan Polaski:

@Yashank Choksi, in general the consensus seems to be that prices likely won't rise dramatically over the next 12 months. Could they fall? Yes. Could they stay flat? Of course. Could the economy rebound quickly and go on another wild ride? It is possible.

Right now, in a lot of primary and secondary markets, demand is still incredibly high for housing. While demand is down somewhat, supply is down even more. In my market (Cincinnati, OH), we have less than a 1 month supply of residential property for sale. Owners don't want people in their house, so they aren't listing. Because of that, pricing is staying high. Mix that with incredibly low interest rates, and you have a strong sellers market.

Combine that with a fed basically saying they will do whatever is necessary to keep the economy afloat (read that as keeping rates low for a while) and I don't see prices on the aggregate falling for a while. BUT, there are still deals to be had, you just have to hunt for them. There is a landlord that bought a duplex thinking he could raise rent to $1,500/mo and can't, so needs to sell. There is a parent moving to a nursing home and the kids don't want the outdated house that is paid off.

The moral of the story is I don't think now is necessarily a bad time to buy, if you can find a property that the numbers work. House hacking a duplex you are almost guaranteed to be cash flow negative, but that is not the issue. If your out of pocket is significantly less than renting somewhere else, and you are creating equity and getting some tax benefits from it, you are still ahead.

Hey Evan, Your answer is so detailed and I got a lot from that. I was definitely missing one point that Owners don't want people in their house, so they aren't listing and now I feel like prices still won't go down that soon as the effects of this pandemic are going to last for next 6 months at least.

Let's hope for the best!

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Originally posted by @Nasar Elarabi:

the advantages I speak of are people constantly moving here and we have a growing local economy! Once the shift officially happens prices may dip but stuff will still sale..

Well, people moving to Charlotte was also my one of the reasons. I really appreciate your help Nasar.

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Thank you @Royston Lobo. I appreciate that.

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Hey @Nasar Elarabi. First of all, I really enjoy reading your answers to my posts. It gives me such good insights and I really appreciate that.

And I don't know anything that has happened in the last 8 years because I just moved to the USA around 11 months ago from India. So, everything is new to me. But I always had a dream to own a lot of properties.

And could you tell me what advantages are you talking about?

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Hey @Royston Lobo! Yes, as it is going to be my first property, I'm thinking of living into 1 and renting out the other one. I haven't done the math yet but I'm sure that I won't be investing in something if my numbers don't look good.

And speaking of long term goals, I will eventually move out from that duplex in a year most probably and rent out both the units, and I want to keep that property as long as I can.

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@Joe Villeneuve Oh so it is already going good!!

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Hey everyone,

This is just a random question. And here I refer good time to buy the Buy and Hold investments. This question is for Charlotte Real Estate investors, gurus, and agents.

So, I've been reading the news about the whole real estate scenario lately. This includes home prices, interest rates, etc. everyone is saying that now is not a good time to buy deals as the home prices could fall more in the next 12 months. Also, I talked to a local real estate agent(Charlotte area) about buying my first duplex for house hacking. I asked her if I should wait for a good time to come And she said that Charlotte's RE market is significantly going up as people are moving to Charlotte from other areas. Therefore, even if the RE market crashes, Charlotte will be one of the least affected.

Is that true? Being a first time home buyer, I don't want to take any wrong steps which could hurt me. Should I go and search for good deals or I should just wait and increase my knowledge for now?

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All Forum Posts by: Yashank Choksi

Yashank Choksi has started 14 posts and replied 49 times.

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