I and many other investors, consider these times to be the best time to buy property. In agriculture, this would be the planting season. Now is the time you prepare your fields, plant seeds, and nurture their growth with anticipation of an excellent harvest in the spring. Just like you do not see farmers harvesting their corn in February in the Midwest, it would be unwise to try to get top dollar for a property that you purchase now.
Very similar with real estate investing. Now is the time to plant excellent deals into your portfolio and nurture them for big profit later. In this market of difficult credit, low appraisals, scarce retail buyers, it is the time to pick up great deals, and not focus on trying to get top dollar for your property. Now, I still suggest buying properties that put money in your pocket with monthly cash flow and have equity, but I intend to wait until the market turns around before turning that equity into cash. Many previous successful investors bought properties in times like this, and focused on selling books and their properties when times were booming. I plan to follow that success path and build a solid portfolio and not try to harvest my investments right after they are planted.
Dan Shafron
Learnrei.com
