Many people ask me:
Is this the right time to invest in apartments?
Aren’t we in a recession?
Shouldn’t I wait for things to settle down?
It isn’t about whether it is the right time or not…
You should be thinking “is this the right deal or not?”
Recessions aren’t always times of darkness. They can be seen as opportunities!
Many smart business people have thrived in times of recessions. They have found opportunities and capitalized on them. Not surprisingly, a ton of amazing companies were formed during times of recession.
Remember 2008-2010 recession and financial /housing market collapse?
Airbnb, Warby Parker, Venmo, WhatsApp, Uber, Pinterest, Instagram, Slack were all formed during that time. Now they are all billion dollar companies and are thriving!
These founders weren’t sitting around debating if they should wait and see , they thought about it and took action!
Same goes for savvy investors. There’s no shortage of smart investors who found lucrative deals during times of recession. Remember, people’s circumstances change, and economic volatility causes lots of distressed sellers and properties to go on sale.
Just today I was contacted by a broker letting me know that a property he listed 3 months ago has recently reduced its sales price by a few millions! From my perspective, it went on “sale”.
Ben and I are not planning on putting our my pencils down, we’re going to keep looking until we find a deal where the numbers look amazing! Because we’re not sitting on the sidelines, we’re not going to miss out on amazing opportunities.
In closing, this is the best quote to answer if this is the right time…