2021 going to be a crisis?

Question

Dont have any properties yet, sometime next year I'll be in a position to purchase my first investment property. I'm hearing alot of influencers like Ken McElroy say 2021 is going to be the new downturn? I'm just wanting insight & also want to hear your guys thoughts 🙏

Dan Barli · Answer

It depends on who you listen to @Jesse Hogue. You can always find people who are saying a downturn is coming and others who say it's on the upside. It depends on your personal strategy and position. There are so many areas within real estate (commercial, retain, residential, multifamily, etc). I listen to Ken McElroy a lot as well and think he's a great person to learn from. With the "downturn," I am preparing to purchase more properties in the next 6 months.

Steve Morris · Answer

When things are up, some people say don't buy it because a downturn is comingWhen things are up, some people say buy because the market is growing and the economy is too.When things are down, some people say don't buy because the market is falling and the economy is too.

When things are down, some people say buy because the market is at bottom and the economy is too.

Understand what sort of property you want, what makes it a good return and get your money together.  If you find it buy since the loudest guys are usually the wrongest ones.

As far as timing, best "deals" happen at the bottoms when NO ONE wants to buy since everyone is talking s***.

Hope that helps :)