Hello BP members, I am brand new to this world of Real Estate Investing but I really love it and I want to start investing!
Now my question is: Is a good time to start investing on Real Estate?
I have been reading for about 2 month already articles and forums on BP and a lot of people says that the market is on the peak of the cycle.
Since capitalist economy is cyclical and there is a recession every 8 to 10 years and last recession was on 2008, we already past this bench mark.
Now I am from Miami and I have notice that prices have gone wild. This is good and bad I would say. Good because we want to sell/rent high and Bad because prices to purchase properties also are high for investors and for non-investors.
Is this a signal that we are about to experience a crash on the market or is a signal that the market still growing?
Hope that you can help me to understand this a little bit more.
@Mario I Fernandez it's always a good time to enter the market if you are educated and you buy a great deal. Based on the question alone, it sounds like you need more time to educate yourself and understand the market you want to invest in. You might consider attending a local REIA meeting to network with other investors and see what is working in your local market. In addition, read some more books (all the BP titles are great), continue to engage on the the BP forum and binge listen to the BP podcast when you have time 😉 Real estate investors make money at every point in the RE cycle. Welcome to BP!
@Mario I Fernandez Welcome to BP!!!! It's never a bad time to buy a good deal but it's always a bad time to buy a bad deal. The question I ask is about the deal, not about the time. With that said, I would not get into any large flip projects now. However if the DOM for comparable sales are 45 days or less I may consider it. All the best. Always remember to persist and you will WIN!!!!
Thanks @Brian Gerlach !
Definitely I'm gonna persist! @Shawn Ackerman
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