Should you buy property in a housing market with high interest rates? Viewer Sue asks “Shark Tank” star Barbara Corcoran (who has a STUNNING NYC apartment) whether it’s a good idea for her and her husband to purchase another rental house even though it costs more these days to borrow money.
Barbara’s answer may surprise you. The business pro says “most definitely yes” because you can never "fortune tell” whether the market will go up or down, and if interest rates continue to rise, Sue and her husband “may have a window to buy something a little cheaper.”
“If they don't go higher, you're going to have a lot of competition. All right? So no matter how you play it, something goes wrong and something goes right,” Barbara explains.
Overall, Barbara says “there's no gain in ever waiting when you want to buy something” (even if that means getting into a bidding war!)
“If you and your husband have been successful with income-producing property, you want to get out there and stay out there and scoop up the best deal that you can get. And now's a good time because so many investors are afraid,” Barbara adds.