ABNB - Millennial Owns 200 Houses But He Gets Others To Pay For Them: How To Invest In Real Estate While Mortgage Rates Are Sky High | Benzinga
Thirty-year fixed mortgage rates have climbed to the highest levels in more than 20 years, but that's not stopping one savvy real estate investor from doing what he does best: buying houses without burning through his own money.
What To Know: The housing market has essentially reached a stalemate as anyone who has already locked in a lower mortgage rate is unwilling to sell and anyone looking to buy has to use the highest mortgage rates in more than two decades — it's not a buyers or sellers market.
That's not a problem for real estate investor Sam Primm. According to a Business Insider report, Primm says there's never a perfect time to buy a house.
Even if interest rates were to drop significantly, housing prices would go back up, Primm said.
The 35-year-old investor has bought approximately 200 houses over the last 10 years using the BRRRR strategy, which stands for buy, rehab, rent, refinance and repeat.
Primm buys a property and increases its value through renovations. Then he ...