should I buy a multi-family now or wait?

[William Gogolla]

Hello Bigger Pockets community! I need your help, I'm looking to get my first rental property and trying to decide if I should buy now or wait for the market to "cool down". I'm 22 and live around Oshkosh/Appleton Wisconsin. I recently purchased my first house about 6 months ago that I live in now and have been rehabbing to resell in the future. I want to begin building a portfolio of rentals however I know the market is at a peak right now. I see a lot of local investors selling their rental properties. Should I pick up one of these properties if the numbers make sense now or just wait to see if the market will go down in the next 1-3 years? Any advice is much appreciated. Thank you!

[Michael Dumler]

@William Gogolla I think most investors would agree and advise that if the deal makes sense you should take advantage and proceed. Real estate is a long term investment strategy. Even if housing prices fall over the next couple of years, it's a safe bet that at some point they will soar back even higher then what we are seeing now. "It's time in the market, not timing the market."