PM_Georgia_Okeefe t1_jdmoepd wrote on March 25, 2023 at 3:18 PM

Reply to comment by chefandy in Volatility in mortgage rates will lead to further deterioration of the U.S. real estate sector in 2023 by exemplaryprophecy1

I YOLOed in April 2020 and bought a vacation home. Locked in 2.74%. Spent 2020 renovating it and now rent it out half the peak season and it covers 3/4 of my mortgage. Plus, now I don’t need to pay for annual beach vacation.

I get cold called from investors where their starting offers are 2X what I paid. The house next door that hasn’t been updated since the 80s just sold for 1.5X what I paid. This market is insane.