sell now, gather cash, be prepared and get ready. market crash.

[Chris Gawlik]

If your thinking of starting to flip fixer uppers, buying your first buy and hold, or your just starting out in RE investment. It would be best to put those plans on hold for at least a few months. Just wait and see what happens with the economy. This is a warning to all, but especially younger newer investors with no experience. I went into a detail in a previous post about why I think this a couple weeks ago, and its becoming more and more relevant as time goes on. Those who are still in limbo as to weather this global pandemic will have an long term impact on the US economy, as well as the housing market in general, need to face reality and plan accordingly. Again this is just my opinion and everyone will have there own plans and investment strategies. To tell you the truth, its really hard to believe that there are still people, to put it bluntly multimillionaire RE investors who think that covid will have no impact on the US economy and housing market. Read my post about the US economy below. The market is crashing, I am not just saying this, I have taken action and sold my primary home and am selling my investment properties to get prepared for whats coming. You can read about this below as well. I am writing this post not to gloat or get attention from readers. I am writing this post to WARN YOU. DON'T FOLLOW THE MASSES ON WALL STREET, THERE ABOUT TO RUN STRAIGHT OFF A CLIFF. THE BULLS HAVE HAD THERE TIME AND ITS OVER. THE TIME OF THE BEARS HAS COME. GET OUT WHILE YOU CAN.  

people-think-were-nuts

the-us-economy-will-recover-quickly-think-again

[Henry Lazerow]

These posts make me LOL. No one can time the markets. What you can do though is read statistics and realize trying to time the market is a losers game. Also even if you are right (unlikely but let's pretend) in past recessions real estate hasn't even crashed the two aren't directly correlated outside of 2008 which was real estate specific. We have mortgage delays and eviction bans right now. In my market chicago demand for 2-4 units is at an all time high and the people affected by covid were not the kind of people buying investment properties regardless. We haven't seen any significant tenant issues either some minor issues here and there with people asking to leave but no evictions or missed rent. It's been pretty business as usual from real estate standpoint. 

If you are selling your properties the most likely result will be losing on closing costs and having to pay more close costs when you buy next at a statistically higher price at least by inflation. To think you can time the top and the bottom is a fallacy.