Given the problems that we are seeing in the real estate market right now as a result of the pandemic, you may not think that now is a very good time to be investing. Bryan Cumby however, CEO of the Cumby group and a savvy investor in his own right, has suggested that this may not be the case recently, and it is something which I do tend to agree with him on.
The reality is that if you are cash rich right now then an investment into real estate could very well be a smart move, and one which could make you some serious profit. Here is why now could be the perfect time for you to buy real estate.
The best time for you to buy real estate, or anything for that matter, is when the price is low, and that is something which is right around the corner in the real estate industry at the moment. In some areas across the country they are anticipating drops in price of up to 6%, which of course promises huge discounts in many areas. To those of you who are worried as to whether or not prices will once again rise, the history of real estate prices show that they will always, and without fail, bounce back.
It is a sad reality that over the last 12 months there have been a huge number of people who have lost their jobs as a result of the virus, and that is going to hit people hard financially. The result of this is that we can expect people to look to get rid of their properties pretty quick, which will mean better value and a faster purchase for investors. Many will be looking to sell before prices really crash, and if you are in it for the long haul then you can use this opportunity to get into the market.
Something to bear in mind is that if you have some cash on the hip which you can afford to invest then you are in the very small percentage of people who are able to do this. Even people out there with solid savings and 401K plans are recognizing that they have to hold on to that money in order to secure their future in these uncertain times. If however you are able to secure your future without the need to hang on to some of those savings then now is the perfect time for you to invest, whilst there is less competition about. This means lower prices, more availability and a far easier route to your very first investment in real estate.
It would appear that now is a bad time to invest money but that simply isn’t the case and the reality is that now, more than ever, is the smartest time for you to invest your money in the real estate industry.