On Realtor.com an article was written showing the top three places in the nation to purchase investment property; Las Vegas was number one, followed by San Diego and Phoenix. Although the forecast is still bleak for Real Estate; and no one wants to speculate on when we will recover, one thing is for sure; families must have a place to live. Then rents are going up and the home prices are going down.
In a conversation I had yesterday with a well established attorney friend of mine, she said “I wish I had waited to buy my home, I have lost all my down payment and equity”. Although this very well might be true, I responded to her and said, “just buy another investment home now that will cash flow, this will help to recover your loss when the market returns”. Not only will she have positive monthly income now, but she will have equity growing in two homes.
