How important is timing in real estate?
I have had this conversation with some older more experienced brokers at my firm regarding real estate and wanted to hear some opinions from expierenced investors. A lot of them believed that timing in the right market was everything and that buying value added properties and flipping them didn't really matter that much when it came to making a profit. It seemed like almost everyone lost money who owned real estate in 2007 and many of these guys have lived through more than one down turn. I want to know what everyone thinks when it comes to market timing VS adding value in real estate. What do you feel is the greatest determining factor in profiting (or losing) in real estate?