Brand new (searching for first property), bad timing?

[Bryant J Gerger]

Hello! So at the start of 2020 I set a goal for myself to complete my first deal and begin ‘House Hacking’ a rental property by August/September of this year. Right now I’m saving for a down payment and reading, listening, and learning as much as I can in preparation. Many forums on BiggerPockets have been so helpful and informative so thank you!

One thing I continue to go back to; with everything that is going on in the world, I’m concerned this might be a bad time to begin my real estate investing path. Any advice?

[Cameron Tope]

Bryant,

Congrats on setting a goal! Most never make that commitment! 

If you follow @Scott Trenchs advice on building wealth one or two houses a year over the long-term then you really don't care what the market is doing right now. Over time you'll buy in up markets and down markets. The important piece is to get into the market throughout your life - like dollar-cost averaging into stocks. 

During this pandemic there will be more opportunities for people with strong financial positions. Just add a little cushion into your numbers and pull the trigger.

As @Brandon Turner says, "your first house won't make you rich but it won't make you poor either." It will be an invaluable learning experience. 

Hope that helps!