Everyone knows: buy low and sell high and you’ll come out on top.
Along with the obvious downsides of a recession comes opportunity to some, but who can profit and how? Here’s my top ten signs you might be a good candidate to capitalize on current market conditions:
- You have steady employment
- You are not in an industry on a downward turn.
- You have savings in the bank to cover several months of unemployment or lack of rent for investment properties.
- You have good credit that will be pulled for a pre-approval.
- You have at least 3.5% for a down-payment (20% for investors) is easily assessable.
- You want to upscale in price point for primary residence housing
- If you want to downsize in price; can you rent your current house? (Downsizing may not likely a good financial choice for most)
- You want investment property income, you’re handy, and you have time to deal with landlord head-aches.
- You want to take advantage of low interest rates and tax advantages
- You wish to be more in control of your savings/equity and wish to invest in RE.
If you have answered “yes” to the majority of these questions, the current market may offer opportunities for you. I see great investment opportunities almost everyday. This current RE market is delivering opportunities to buy low with few exceptions in the middle market. Ten years from now, will we see a 10% annual return if history repeats it’s self? To be in complete control of the investment, and to be freed from the stock market-I’m betting on my choices…