Should I wait to buy my first property?

[Mario F.]

I am looking to buy my first property within the next few months but I've heard several real estate investors say that it's a terrible time to buy because of peak prices.  That I should wait at least until after the election etc.... I was wondering if anyone had thoughts on this.  Thanks!

mario

[Jay Barndt]

@Mario F., the time to buy, that term is very general to specific sections of REI, wholesales, fix/flips generally can suffer with the rise and fall of the market, buy an hold on the other hand is usually unscathed in what the market is doing as long as you invest for cash-flow not appreciation/equity so it would depend on which section of REI you are looking to dig into. also using zillow / trulia to map out past and current prices can help determine how things are going but don't quote me on that one. i prefer buy an hold for long term wealth, "buy for the cash flow, and enjoy the appreciation" was once a slogan on BP podcast and i agree. hope this was some help for you or at least gets the wheels turning. best of luck,

Jay.