The Best Time to Get into Multifamily – How To Decide
A large part of how I give back is by giving my time to others. I spend each week speaking with investors across the nation on 15-minute phone calls. Needless to say, this has been a transformational way to gain education and perspective from thousands of highly educated people. In exchange, my goal is always to add value to others by sharing free resources and lessons that I have learned along the way.
A Common Question I Get From Prospective Investors:
“Is this the right time to invest in multifamily apartments?”
“Is it the right time for you?”
I remember in 2009 when I bought my first piece of real estate, I was ready! The media and news were promoting a broken economy, massive job losses, and a collapsed stock market, but I knew that I was ready to start a pursuit in real estate. Had I asked 100 other people what they thought, I would have likely received mixed responses. Most people at that time would have likely said something to the tune of “I would wait and see what happens…” In other words, they were not ready.
I remember when I made the leap from single-family investing to multifamily investing in 2015. Once again…I knew I was ready to get started. But was it the right time? Cap rates were slightly higher and cash on cash was slightly higher as well. Does that mean that today it’s too late? In 2015, the media and news were reporting on North Korea issuing a nuclear warning to the US and it was about to be an election year in 2016 with a lot of uncertainty in the market. Gurus like Robert Kiyosaki and Peter Schiff were calling for a MASSIVE meltdown in the economy and stock market. But I was ready to start a new pursuit as a passive investor.
Is It The Right Time For You?
You are in control of your destiny. You have the power and freedom to decide whether or not something is right for you and whether or not the timing is right. Everyone has an opinion, but the only one that matters is your own. Don’t be persuaded by the media or by others when it comes to your future. Take some time to outline your goals and create a plan of action and then go for it when YOU feel ready.
“If you keep waiting for the right time, it may never happen. Sometimes you have to make the most of the time you have.” ― Priya Ardis
To Your Success
Disclaimer: The views and opinions expressed in this blog post are provided for informational purposes only, and should not be construed as an offer to buy or sell any securities or to make or consider any investment or course of action.