Delaying Investment Until Next Economic Downturn

[Pope Lake]

Hi BP! 

I'm currently looking to purchase a property in Birmingham, AL to buy and hold. I know that this market is currently great for this strategy, and hope to find a property that adequately cash flows. Ideally, I would like to purchase in this market before the year closes out.

However, given recent investor fear about an impending economic downturn, should I hold out until prices are generally lower? Of course, if I wait until the market actually turns I should be able to buy property for cheaper and save money.

While I've read that it's never great to try and "time the market" I also don't want to be over eager and purchase at potentially the wrong time, when waiting perhaps a little bit longer could result in a better investment. Interested to know your thoughts!

[Ladè Baruwa]

@Pope Lake If you decide to wait until the market turns, who is to say when that will be? 

You may miss out on many opportunities waiting for an economic downturn, and who’s to say when it does happen that you will be in the same situation to buy as you are now?

Don’t wait. Do your homework, find an opportunity and go for it.