Recession

4 Replies

Hello I'm new here to BP. I wanted to invest property but it seems like the prices has gone up way too high now is it too late to buy property now and just wait for the another recession? By the way I live in Las Vegas

Welcome Frank.  Prices are much higher now.  Be patient.

Originally posted by @Frank Sam :

Hello I'm new here to BP. I wanted to invest property but it seems like the prices has gone up way too high now is it too late to buy property now and just wait for the another recession? By the way I live in Las Vegas

Your post reminds me of those stock investors who try to time the market. They always seem to think that the next big market correction is right around the corner and they pull all of their money out of their investments and lose a fortune in potential growth. The same can be said for real estate. 

I am not seeing anywhere near the level of instability that we saw in 2006. Prices are increasing, but in many markets they are nowhere near their 2006 peaks. Places like Las Vegas still remain very affordable to the average home buyer. In a few select coastal areas prices are outrageous, but that is in spite of more strict credit rules and a larger safety net. 

I too am new and looking for someone to team yo with. In not in Vegas yet but lets stay in touch

I agree with @Phillip Dwyer just be patient. I am investing out of state in a slightly lower priced market using the Brrrr strategy.
I chose my hometown back east, an area I know very well, have family and boots on the ground. I feel like we are at or near peak prices in the market, so you really have to find a deal well below market that you can add value.

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