Why I think waiting a year isn’t the best idea

[Nicholas Salman]

“I’ll wait until next year”

Some of the people I talk to regarding real estate get excited and want to meet up or talk and a good amount of the time they end it by saying “Definitely this time next year im buying a house!”

My question is “Well what specifically are you waiting for?”

Everyone seems to be a mortgage expert waiting on the next 07 crash, perfectly timing the market. The problem is you will most likely never see that again and there is no “perfect time”. It always ends up coming down to the fact that there may be no better time than the present.

If it’s a good deal it’s a good deal regardless of the market. You will often hear ”cash is king” but as it was put to me ”cash flow is king”.

A year from now you can have your first property, have recouped your down payment, be living close to rent free if not entirely rent free, and have built equity in that year. If your goal is to buy your dream home then congrats, you just got one step closer to achieving that by purchasing a cash flowing asset.

It’s likely there is no better time than the present. I don’t have a magic 8 ball and I can’t tell the future but what I can promise you is if you lock in on a good deal and the property cash flows well, you are locked in to one of the most secure forms of investment possible.

Not financial advice, just trying to help atleast 1 🙌

[JD Martin]

Time tends to heal all sins when it comes to real estate. You can pretty much overpay, over-rehab, and make every other mistake you can think of, and if you hold the property long enough you will almost certainly wash out all of those issues. That doesn't mean you should strive to waste your money, only that you shouldn't put too much weight on those factors if your horizon (as it should be for most) is measured in years instead of months.