Is now the time to buy?
We did something very interesting the other day. We bought a bus. Now, it’s not a school bus. It’s a public, transit-type bus. The reason we were looking for one was because we plan to travel a lot more around the U.S. making the most out of the 18 summers we have left with our kids.
As I have told you before, we rented an RV last year and drove from Calhoun to the Grand Canyon. And it was amazing. Not only did we have some great adventures, but we made some wonderful memories that tightened our family bond. We also learned a lot about RVing.
We rented a 30-foot class C motorhome, which looks like a U-Haul truck. It had two slides and was pretty easy to drive. It had space for the kids to move about in the cabin and easily access the bathroom while driving — which was awesome because I have one child whose bladder tops out at about 45 minutes. Potty breaks that often can increase our travel time by hours. But on the RV, the only time we had to stop was for gas or if I had to go. Those two things made travel much more comfortable and efficient.
There were some things we didn’t like though, such as the volume of the drive. When I was driving, I couldn’t hear Ashley and the kids because the motor was right beside me and the generator was right underneath me. This made communication difficult, especially if they were not sitting close to me.
The ride was a little rough on them, too. You see, that rig had a lot of weight on it because of the cabin and the water tanks. In turn, that weight put quite a bit of pressure on the suspension. The result was that Ashley and the kids got jostled around.
Wanting to circumvent those problems and still enjoy the comforts and conveniences of travel in an RV, I decided to look for a transit bus with plans to convert it to a modified RV complete with TV, bathrooms, a fridge and comfortable seating. And would you believe it, I found a 1999 E-450 transit van that had already been converted to an RV for a great deal.
Now, I wanted the bus to drive in. But we want to pull a camper with it to live in while we are on the road. So, now we are in the market for a 30-to-35-foot, bumper-pull camper, preferably with fiberglass siding, three slides, 2 air conditioners, a kitchen island and a bunk room.
Those type units are available, but the price has gone up dramatically since COVID-19 hit because with the option of working remotely, many families have decided to buy campers and hit the road. This decreased camper availability, especially with manufacturing plants not working at capacity, has made for a supply and demand issue that drove the price up. But there is a suspicion that with the schools opening and people returning back to work, many of the camper families will elect to sell their units on a mass scale, driving prices back down.
So the question is, “Is now the time to buy? Or should I wait?”
You know, real estate investors run into this same issue all the time because there is always a boom or a bust right around the corner that could affect prices and inventory. And if you wait on all the coulds, house after house will pass you by.
Don’t fall prey to this speculation trap. You see, there are deals in every market. You just have to be willing to work for them.
Now I’ll be the first to admit I’m buying houses for way more than when we started back in 2012. But the after-repair value and the current rent rates still make the deals produce a profit.
So, to answer the question, “Is now the time to buy?” The answer is “Yes!” If you have found a good enough deal. Just don’t let supposed market conditions make no deal good enough in your mind and keep you from making your dreams happen.
So, I guess I need to take my own advice and start looking harder for a camper and get ready to pull the trigger. And if you know anyone that has one for sale, I’m in the market and would appreciate the referral.
**Update: We found an awesome 32-foot rig, bought it and have already been on our first adventure. We love it!**
Joe and Ashley English buy houses and mobile homes in Northwest Georgia. For more information or to ask a question, go to www.cashflowwithjoe.com or call Joe at 678-986-6813.