Less than 5% in a Recession?

[Tanveer Mostafa]

Hi everyone,

I am looking at a property in Ottawa that seems to have great numbers on it for what I'll get back. On cash flow alone I am likely to break even or earn some cashback. However, I would only be able to put anywhere between 5-10% down and on top of that, it seems like many are predicting a crash between the next 6-18 months. The market in Ottawa is hot so this will likely go over asking and typically in that scenario, I am unable to put anything in like an inspection clause. This property will sell for sure. 

Is now a bad time to make a purchase like this? Should I wait until the dust settles to jump on the opportunities that exist then?

Any guidance would be appreciated.

Best,

Tanveer