Big dilemma - Buy at high prices now or wait for a correction

[Anna Sam]

Hello BP friends

I am currently looking for smaller Multi family opportunities in a few states and for the most part seeing very high prices per unit. On the one hand I feel like its better to wait for a correction and on the other want to leverage best opportunities that are currently available at the current prices. 

It seems smart to wait for a correction but in these crazy times not sure how many more years to wait for it and lose precious time.

Its sometimes hard to find too many cash flowing properties at this time . Any of you in the same boat and wondering about it. Kindly share your thoughts. 

[Arn Cenedella]

@Anna Sam

There is no answer to your question. 
It’s a matter of opinion. 

I am still a buyer for MF. Long term, the fundamentals are positive for real estate in general and MF in particular. Population is growing and there is a severe lack of housing in the US especially affordable. And honestly I see little or no way to solve this problem. 

Yes the market may hit some turbulence in the short term. 

Whether a market is at the top or at the bottom is only known 6 months after the fact. 

I’ve been investing in real estate since 1978 and I don’t begin to believe I can predict the market. 

I would suggest considering the following:

Time in the market is more important than timing the market.