Late to the party...☹

[Peter Jetson]

I was listening to Podcast 245 this morning with Ryan Holiday and at some point in the podcast, there was a discussion about how everyone who invested in 08 and 09 looks like a genius today. Well, like perhaps many other newbies here, I was looking elsewhere in 08-09 and did not jump on the opportunity. Now I am ready to invest and of course, I'm late to the party :(

Everywhere I turn, I find cap rates below 5%, and I don't really want to go into risky C or C- properties or Rust Belt markets for my first investment, as I might find myself squeezed if the market crashes, assuming we are closer to the end of the up cycle now than we were 5 years back.

So what is your advice, seasoned investors? Faced with this challenging environment to kick things off, what would you do? Sit tight and wait? Be super prudent and accept 3-4% cap rate deals? Go all out and play the risk game alongside others who have a low cost portfolio to keep them afloat if disaster strikes? I'd be keen to hear your views especially if you started investing in 06 or 07, i.e. right at the end of the last cycle and before the crash. What would you do now armed with your experience if you were in my shoes?