Las Vegas, NV · Member since 2020 · 162 posts · 113 votes
Good morning all (PST),
I am going to start by saying, I am so happy I have found Bigger Pockets and everyone in it. I have been reading through all the forums, attending webinars and listening to the podcasts. Thoroughly enjoying learning the process.
With that said, I am looking to buy my first investment property. Due to the corona virus, I am hesitant. People are dying, losing jobs and aren’t able to pay rent. I guess what I am trying to ask is that is there ever a right time? I would love to hear different opinions about the whole situation.
@Jordan Murrell The answer is yes. It’s always a good time to start investing. Truthfully, investing is not about timing; it’s about numbers. Do the numbers make sense if things stay the same? Do the numbers make sense if things go down? What if they go down a lot? Is the location able to support a downturn in the market or will people start to mass exit the area? Do I have enough reserves to whether most unforeseen events or government intervention in my investing plan? If you are able to answer those questions and still feel good about the investment, then go for it. If not, then don’t.
Additionally, those who know how to invest know how to recognize good deals and they have networks and systems in place to take advantage of good deals quickly. So even if you don’t find a deal that looks like it makes sense by the numbers, spending time learning and networking with people who are still doing deals is going to help prepare you for when you do find a good deal.
There is no right or wrong answer. But it depends on YOUR criteria. If you run the numbers n do your due diligence, you can invest in any market and still be able to find a great deal.
Sorry I’m leaving the AirBNB game for Hospitals and Grocery stores. They seem to be the stable investment. Just kidding. But seriously, any commercial owner who comes to you looking for a fire sale, gimme a ring. Buffalove my friend!
100% everything that @Shiloh Lundahl said. IMO, I believe if you answer those questions and can say that you are able to invest during these time then go for it. However, I do think it's best to wait several more months since housing prices haven't changed drastically yet(at least in my area). And everyone knows that the only change that will happen, when it happens, is down. Which would be ideal for a prepared investor with the available funds/knowledge/resources to weather the market.
@Matt Millard what’s your opinion of crypto? I’ve been holding since well before the peek in 2017 (🤦🏻♀️ should have sold) and have been debating what my next steps will be with my portfolio now that it’s starting to bounce back a little.