I am wondering what everyone is doing to buy rental properties below market value now that the market is slowing and prices are dropping. In my market (baltimore) prices have come down 10k-50k in hot areas already, and I’m sure will slip more as fall and winter approach.
Phatman,
I’m in NOVA so I understand your concern. Have you gotten any feelings on this lately.
All I can see is working in longer holding costs and lower sales prices. That will make it a tougher sale to the seller.
On the other hand, a little patience and maybe a buy and hold strategy could be pretty sweet in a couple of years with a new administration in the area.