In terms of the real estate market, do you think now would be a good time to start investing in real estate or should we wait for the recession to subside before investing in the real estate market?
If you’re investing in single family homes, now is a great time. With a time horizon of 7+ years, exact bottom picking is irrelevant. Remember, real estate is local. So trust your instincts.
If you’re investing in multiplex property, market timing means very little. Simply look for a cash flow positive property (or something you can turn into cash positive with high certainty). In high markets they’re hard to find, in low markets it’s easier. But the goal is always the same: get more out than what goes in.
Bear in mind, when you do the math don’t forget the little things. Every building makes heaps of money when you only count the mortgage, insurance, and property tax. And remember to include the value of your time! Spending 5 hours a week to earn $200 a month is lousy money. Work at Wal-Mart, earn the same coin, and take less risk.
Investing in real estate is deceptively difficult. Anyone can buy a property and even make money. But to do it well takes experience. Research and learn as much as you can from real investors, not sham “gurus”. Start with John T Reed. He is a great resource for beginners.
Good Luck.