In life, we always have to be looking for opportunity.
If you don't think that hyperinflation, rising interest rates, and overall emotional uncertainty is going to have an impact on the real estate market in the coming years, then you need to give your head a shake. Warren Buffett says that it is wise for investors to be “fearful when others are greedy, and greedy when others are fearful.”
Everyone always tells me, I'm going to act when the market is down, or I want to jump on deals when times are slow. As humans, the trouble is the social impact of tough markets. The negative news [as usual], the anxiety of being in the reds with an asset and the stress of dealing with friends/family and their opinions. Generally in good markets, everyone is confident and comfortable buying. In turn, with bad markets, everyone tends to clutch onto their wallet like the world is ending. To actually pull the trigger on a big investment purchase during a recession, with all that outside noise and distraction, is very difficult. You are doing something that scares others. You are worried about being judged. You wonder why no one else sees the opportunity or numbers like you do. To step out onto the limb alone, is a daunting task.
I don't believe in luck - I believe you create your own. I think of luck as 'circumstantial opportunities'. Positioning yourself in the right place, with the right insight and the right influence.
My advice is to always be ready. Cash in the account. Watch the trends. Study the numbers. Align yourself with industry professionals that can provide real guidance. And when you see the chance, pounce.
Purchase opportunities are coming - the main question is, will you take advantage of them?
Feel free to call/text me @ 403 999 8610 to discuss your real estate goals and what you are doing in the coming years to achieve them.
Posted by Joel Gwillim on