10-08-2011, 02:16 AM
Microman wrote: ...Prices low.
Relative to what? We've just come out of a huge housing bubble where the entire country's housing stock was grossly overvalued and have now suffered a large correction. It would be more accurate to say that prices are now normalized....maybe. They could definitely continue downwards, especially if interest rates inched up. In many parts of the country renting is much more financially sound than buying.
It sounds to me like you haven't done a proper financial analysis. Any income real estate purchase (or any real estate purchase) must be accompanied by a careful analysis that shows where the money is going to come out of the deal. If you don't do that you will almost certainly lose.