If you’re thinking about investing in real estate, maybe you’re wondering WHEN is the right time to invest. I believe the time is now. There’s never been a better time to invest in real estate. Here’s why…
Many aspiring investors ask me about timing – they ask, “Kent, should I invest in real estate now or should I wait?” Usually their option to wait is tied to some other factor (often external) that is a trigger for them to start investing. But here’s what I think about timing:
Timing the market is something that stock investors do. But for more real estate investors, timing the market is a waste of time. The only reason you should wait is because you’re looking for a deal but your due diligence hasn’t surfaced the right deal yet.
Here’s why NOW is the best time to invest…
The Time Is Now – Experience
Some people want to delay investing because they don’t have experience. That doesn’t make sense to me. The only way you’ll get investing experience is by investing! So go out there and start looking for a deal and gain the experience.
The Time Is Now – Age
Do you feel you’re too young or too old to invest? Guess what – no one is the perfect age to invest and if you use age as an excuse to delay investing, you’ll always find a reason NOT to invest. Instead, admit to yourself that your age gives you a mix of advantages and disadvantages, no matter what age you are. (If you’re a younger investor, you have the disadvantage of maybe a lack of funds and experience but the advantage of many years of returns ahead of you; if you’re an older investor, you have the disadvantage of having bills and commitments but the advantage of funds and experience.)
The Time Is Now – Real Estate Market
Don’t wait for the real estate market to come to you. Go get it. It doesn’t matter what the real estate market is doing, you can find a deal. Sure, you might need to adjust your numbers or your strategy, or perhaps you might even need to find a different real estate market (if you don’t want to adjust your strategy) but the real estate market shouldn’t delay you.
The Time Is Now – The Economy
Too many people wait for something to happen in the economy before they invest. But here’s the thing: in good economies, you can often get credit to do more deals; in bad economies, you can often find better priced deals and even more renters. No economy is perfect for investing; you just need to find out what’s good about the current economy and leverage that until the economy changes.
The Time Is Now – Politics
“Kent, I’m not sure who will win the next election… so I’m not going to invest until I see what happens.” Election results may influence the economy, the labor market, taxation, and more but that shouldn’t stop you either. Maybe results of state elections inspire you to invest in a different state; maybe national elections inspire you to change your investing strategy. But just like the economy, every election result will create advantages and disadvantages for real estate investors so you need to take action anyway.
Friends, if you’re wondering WHEN you should invest in real estate, I’ve got some exciting news for you: the time is now.
Still not sure where/when to start? Get with one of our experienced, real estate coaches to help you accelerate your new venture. Click Here for more information.