Is it smart to wait for the market to cool off?

In this episode, we run the numbers on a few different scenarios. We look at the monthly and lifetime payment on a loan at different interest rates to highlight the differences in cost. This exercise illustrates that sometimes waiting for the market to cool might not save you as much money as you might think. --- Transcript   Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Michael: What's going on everybody? Welcome to another episode of The Remote Real Estate Investor. My name is Michael album and today I'm joined by my co host,   Emil: Emil Shour.   Michael: And we're gonna be talking today about a hot topic that if you live not under a rock, you've probably heard about, people are talking about rising interest rates and a potential market crash. So let's get into it.   Alright, Emil, we're gonna get talking here in just a minute. But curious to know it's been a while man what's going on with you? Quick 30 second update.   Emil: In November, we moved to a new house and we had a new baby. So it's been a very, very boring month. It was a very boring month of November. Not very big, huge life updates. You know, for anyone listening. I do not recommend having a baby and moving in the same month. That was a that was really hard and stressful. So   Michael: Or are you just getting it all out of the way on one swoop?   Emil: Yes. But no, no, don't do it. Don't do it. So went to sleep anxious woke up anxious. It is. It's a lot of stuff. So spaced out, like six months or something at least.   Michael: All right. Well, I will for everyone listening. I've seen both meals, new baby and house both in person, which was awesome. And they are both gorgeous. He does good work.   Emil: Thanks. My wife made the baby. So yeah, it's a team effort.   Michael: Total team effort on both fronts.   Emil: Yes, sir. How about you, man, what's what's new.   Michael: All kinds of things like last week basically has been a financial gut punch, I had a bunch of issues with a sale that I did a while back and put some money up in escrow. And some things went sideways with the city. So that's in trouble now. And I'm trying to also close on a new primary purchase on in a day for now, two days from now. And I was supposed to send some money over from a financial institution. And they call me and says, Oh, our servers crashed, we couldn't send that money. And that was delayed by about a week or so. And so this morning, it just came in, in the nick of time. But I was like, how did you not think to tell me that the Amazon server hosting servers crashed and you couldn't send my money, you're holding it hostage for a week. So it's just been a real whirlwind. And then my construction project has gone a little bit off the rails yet again. So dealing with that banks, issues as well. So it's been a lot, it's been a lot, but as they say, when it rains it pours so hoping, um, through the worst of it.   Emil: Has anything in real estate gone smoothly for you in the last six months?   Michael: Yeah, actually. I was gonna say Yeah, cuz we bought that short term rental. It's been awesome. But they also found out that it needs a new deck, which is gonna be like eight to nine grand, which wasn't found during the inspection. So no, I can say with a resounding no, it's been good, but not smooth.   Emil: I think there's a takeaway there is you should expect in real estate that things are not going to go smoothly. Like there's always little things. I think if you expect them, they don't feel so bad. And, you know, I think you've been doing this long enoug