Wow! It’s hot right now! And I’m not talking about this Hawaiian weather.
I’m talking about the real estate market. It’s crazy competitive, hard to find good deals, and sellers receive multiple offers on a lot of properties.
All this has many people thinking, “You know what? I think I’ll just wait for the market to drop again, since it goes up and down in cycles, and I’ll jump in next time.”
But this might actually not be a good idea. Here I’ll explain why waiting to invest in real estate now might limit your ability later.
Waiting for the Next Market Crash Before Investing?
So, should you wait to invest in real estate until the market crashes again? Probably not.
While I understand and respect the sentiment—wanting to wait for the market to get easier—let me offer a few pieces of advice on why I think that’s a bad idea.
When the market does correct itself again (and it will, real estate is cyclical), you need to be prepared and ready to buy. But if you sit back right now, refusing to partake, you won’t have the confidence, clout, or collateral to invest.
What’s more, there are deals to be found in today’s real estate market. You just have to work harder to get ’em! It requires that you become an expert at finding deals, analyzing deals, and putting together financing.
Is it hard? Yes, often it is!
But have you ever noticed the baseball player taking a few practice swings before stepping up to the plate at a baseball game? Instead of swinging one single bat, he grabs three or four bats, bunches them all together, and swings all of them together. Why? Because his muscles get quickly accustomed to the weight of three bats. When he drops the extras and approaches the plate moments later, the single bat in his hand feels light as a feather, giving him the ability—and confidence—to knock the ball into the left field bleachers!
In the same way, becoming an experienced real estate investor now by developing the skills necessary in today’s market will help you knock it out of the park when the market does decline. Your skills will be sharp, your reputation will be solid, and your finances will be in order. You’ll be ready to dominate.
So, use this time to sharpen your skill. Don’t go jump into a bad deal, but learn how the pros are buying real estate deals in this market. You’ll thank me when the market drops again.
What do you think of this strategy? Do you buy it? Are you partaking in real estate now? Or waiting on the market?
Let’s talk in the comment section!