Just saw this news story about how mortgage rates for investment properties are climbing again, and honestly, it's got me second-guessing my plans. I've been thinking about jumping into rental properties for a while now—figured it'd be a decent way to build some passive income, you know? But now I'm wondering if it's the right time or if I'm just setting myself up for stress and headaches. Curious if anyone else caught this news or has thoughts on it.
"But now I'm wondering if it's the right time or if I'm just setting myself up for stress and headaches."
You're right to be cautious—investment properties aren't exactly the passive income dream some make them out to be, especially with climbing mortgage rates. I've seen clients underestimate maintenance costs, tenant issues, and vacancy periods, all of which can quickly erode profits. That said, if you're financially prepared and patient enough to weather short-term fluctuations, it can still pay off in the long run. Just don't jump in expecting easy money...
Totally get where you're coming from. I've seen plenty of friends jump into investment properties thinking it's gonna be smooth sailing, only to realize it's more like a second job. One buddy of mine had a tenant who stopped paying rent out of nowhere, and it took him months (and a ton of stress) to sort it out. On the flip side, another friend bought during a shaky market, stuck it out, and now she's doing pretty well.
Honestly, it boils down to how much cushion you've got financially and emotionally. If you're already feeling nervous AF, maybe that's your gut telling you something. There's nothing wrong with holding off for a bit, building up your credit or savings, and waiting until things feel a bit more stable. Rates might settle down, or you might just feel more confident later on. Either way, don't rush yourself—it's not like investment properties are going anywhere.
