- So, let's be real.
The number one question
we've been hearing
from the real estate side,
for whether you're
a buyer, a seller,
or a real estate investor is,
hey, will there by
an economic recession
and how will this affect
real estate overall?
And the reality is
no one's gonna have
an exact answer to that,
or else they'd be a
multi-billionaire.
And let's look at some
facts, though, ready?
It really depends,
if you're buying right now,
or you're a
first-time home buyer,
or you're an investor
to looking for flip,
or you're cash-flowing,
or if you're a seller,
or you're selling to
get the equity out.
So, you're purchasing
a new home,
or you're selling in order
to take the capital out,
and use it as retirement
because you know
you're gonna retire
in the next five, seven years,
it's all different factor.
And it depends on
different strategies,
depending on who you are
as the consumer, right?
So, what I wanna really
talk about today is,
let's talk about a buyer, right?
Are you buying this
for long-term haul?
Or, are you just trying to
buy it and hope that hey,
the market's gonna go up 10%,
like here in Seattle,
and next year,
if I buy this $500,000 house
it's gonna go up to 550, right?
And sell it and
take the equity out.
So, it really depends
where you're at, right?
If you're a first-time
home buyer right now,
or you're buying and you
know you're gonna live there
for years to come, yes,
because I am doing that.
Because, why?
I'm gonna pay a
mortgage or rent, right?
If I'm gonna pay
someone 3,000 for rent,
and God's sake, for
the next three years,
that's almost a
hundred grand, right,
that I just gave
away to rent versus,
why am I to pay that $3,000
to a mortgage no matter what,
that principal goes down,
I still own a house and
at the end of 30 years,
or at the end of 10 years,
or whenever the market
next cycle's good,
sell it and now I have equity,
or net worth in my hands, right?
So, it really depends on that.
If you're a seller,
it really depends.
Are you selling this
to buy the next home
and be wary-full of
the interest rate.
The interest rate right
now is amazing, I mean it.
I have properties that
I just refinanced,
I'm like, "Oh my
gosh, it was at 4%?"
The credit cards that we
have are 18% interest rate.
So, that's something to
think about right now,
if you're a seller, think about,
okay, if you're selling,
what is my next position
in the real estate market?
Or, am I selling
something and buying
a cash full of property
so I get investment or
passive income coming in?
So, I hope that
helps a little bit,
If you have more questions,
please feel free to jot below
and we'll talk a little bit more
and go into depth with it.
I hope all is well,
and I wanted to wish you
and your family the best.
Take care, guys.
