All of the above continues to apply in 2020. If you are financially ready, it is still a good time to start investing for the long-term. Every city market is different, and even within each city, there are micro-markets operating at a suburb/regional level – there is opportunity, but you need to know where and what to look for.
But overall, the real question you should be asking yourself, if you are sitting on the sidelines or waiting for the market to ‘bottom out’ is not about which property should I buy. As we often say to our customers ‘buying a property’ is not the same as investing in property for the purpose of building wealth.
The real question to ask is: “Where am I at today and where do I want to be in 15-20 years.”
From there it is a question of sitting down with a professional to put a team and strategy in place to help you move forward. Don’t forget: like any important pursuit, you don’t have to do it alone – it doesn’t have to mean endless Saturdays of property inspections. Leverage the time and expertise of people who do this every day.
Property is simple – it’s why everyone loves to talk real estate and everyone has an opinion on it. But that doesn’t mean it’s easy. There will be challenges, and you will need the staying power to last the distance. We want each and every one of our investors get to that goal; to wake up in 15/20 years having made some real financial progress in life.