If there is a correction...
Hey guys, Q:
Say there is a downturn/market correction in the next year or two, what's the best strategy today if you're hungry to get involved with REI? I hear time and time again from podcasts & advice online that this shouldn't be an excuse to pass on getting started (nobody can predict the future). I live in Scottsdale, AZ, and home values have increased considerably since 2012 - as most have - and we seem to be getting to that point.
Here are my interpretations (keep in mind, I'm very new to all of this). Please correct me where I'm wrong and share your thoughts on this topic:
-BRRRR would be a risky play, because investing into rehab and then refinancing after a period of time may not work out if the market dips; your investment could plummet and money will be stuck.
-Buy & hold is still a good option if you find a great deal that will produce monthly cashflow.
- Wholesaling is also still a good option if you can find deals, because there's no skin in the game.