Buy a REI now or hold?

[Vik J.]

Good day folks,

I understand no one has a crystal ball but wanted to start a discussion on this.

I would like to buy another rental property in Austin (Leander, Pflug, G'town, etc.) and wondering if I should wait a few more months? I am currently looking at new constructions that could get me a $150 monthly cash flow (after removing PITI + listing fees), but wondering if prices may dip further.

To those posters here whobought REI in Austin during the last downturn (2009'ish), how long after the "crash" did the new reality prices start to reflect? 3 mo? 12 mo?