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Updated over 7 years ago on . Most recent reply

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35
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12
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Chandler Smith
  • Lakeland, FL
12
Votes |
35
Posts

When is the right time to get in?

Chandler Smith
  • Lakeland, FL
Posted

I contacted one of my mentors after not talking for almost year while I built up some capital. Which a year ago he told me I needed to save more before I jumped into real estate. When I talked to him today he advised me that the market is elevated right now and in his opinion it isn't the best time to buy right now.

So my question is, When is the right time to buy?

I figured real estate was just like the stock market, you never know if the market is completely elevated or if it will continue to rise. Someone new to investing would miss out on a good opportunity if the market were to continue to grow. Or there is the disappointment when your mentor is right and the market drops and your property depreciates in value.

Should I listen to my mentor when it comes to waiting to buy or go ahead and dive in and learn from my mistakes or prosper if the market goes up? Regardless my mentor said he will be by my side. 

Most Popular Reply

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2,953
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4,475
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Alexander Felice
  • Guy with Great Hair
  • Austin, TX
4,475
Votes |
2,953
Posts
Alexander Felice
  • Guy with Great Hair
  • Austin, TX
Replied

I bought one last year. I bought one the year before. I bought 2 houses this year, and I might buy a 3rd this year.

People ask this question all the time. 3 years ago they said the market was too high, today they say the market is too high. When the crash comes they will say the market is too volatile and you should wait to invest.

You want to make money, get in the market. You want to watch the market go by, keep doing what you're doing. 

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