I contacted one of my mentors after not talking for almost year while I built up some capital. Which a year ago he told me I needed to save more before I jumped into real estate. When I talked to him today he advised me that the market is elevated right now and in his opinion it isn't the best time to buy right now.
So my question is, When is the right time to buy?
I figured real estate was just like the stock market, you never know if the market is completely elevated or if it will continue to rise. Someone new to investing would miss out on a good opportunity if the market were to continue to grow. Or there is the disappointment when your mentor is right and the market drops and your property depreciates in value.
Should I listen to my mentor when it comes to waiting to buy or go ahead and dive in and learn from my mistakes or prosper if the market goes up? Regardless my mentor said he will be by my side.