What do I do with my money when the market is for the sellers

[MarianRavenwood]

So you can't contribute anything to the monthly cost of this property? Where are you living now and with what money? What money will you use to fix the place up?

Yes the market will correct...no telling how much or when. If you can't afford what you want, then adjust your expectations or location. I wouldn't bank on airbnb income. That trend seems to be waning.

[Hemlock140]

Originally Posted by MarianRavenwood

So you can't contribute anything to the monthly cost of this property? Where are you living now and with what money? What money will you use to fix the place up?

Yes the market will correct...no telling how much or when. If you can't afford what you want, then adjust your expectations or location. I wouldn't bank on airbnb income. That trend seems to be waning.

I agree with this. You may find that the unicorn $200k fixer now is $350k in 5 years, and the bubble takes 10+ years to burst. Consider history, our house was $190k when we bought in 1993, before the recession of 2008 it had gone up to $674k, then in the crash it dropped to 400k, but now back up to $960k. That 1993-2007 run was 14 years, but would have been a lot longer if not for the mortgage lender practices that no longer exist. What we have now is (1) historically low interest rates and (2) more and more tech workers making $250k+ and (3) immigrants from India and even China bringing large amounts of cash. The most likely way the demand slows is higher interest rates, but for the buyer, more inventory and slightly lower prices may be offset by higher mortgage payments.