Should I buy now or wait?

Question

Hey BP members.

I am 21 years old from Israel. I started learning RE couple weeks ago and im loving every bit of it.

In Israel for the last 7 years there is harsh RE bubble... looking back 7 years ago the prices doubled. for example my apartment went from $100k to $220k. everyone says its a bubble and its going to explode soon but nothing happens (|that was 3 years ago). in this reality its not possible to start investing in RE here.

my qustion: should i wait for the bubble to burst and then buy(no clue when it will happen) OR should i go all in and buy now?

Joe Fairless · Answer

@Netanel Malihi I have no clue about the Israel market but the "should I invest in this bubble market?" is a question that I can answer generally. My take is to proceed with caution (i.e. don't go "all in" if that means spending all your money) and learn how the investors in your local area are making money AND how they were making money 2 - 4, 5 - 7 and 8 - 10 years ago so you get some context on if they have evolved their approach.

There are always good deals when you work directly with the seller because you can structure deals however you want to but they need to be motivated and you have to know how to do it.

I think there's an Beginner's Guide on BP - I'd check that out too.