|I just came back from a “Fast Track to Cashflow” event with Darren Weeks. It was a hodge podge of business concepts, opportunities and of course, real estate. It was interesting to learn from an investor about his thoughts on real estate investing. Near the end of the night the question came up of where our city is on the real estate curve. Is it still the time to buy?Darren Weeks asked that question to the 400 or so attendees. I would say that over 90% of the people thought that we were at the top of real estate curve. He then quickly added in, “Then why are you here?” If indeed we are at the top of the real estate investment curve, according to many professional investors, it is not the time to buy. Because of the way markets work and how important it is to keep your money flowing and growing by entering and exiting at the right times, why then would you look at real estate?
A friend of mine is into real estate and has been for years. She invests at any time of the cycle and any time of the year. Her thoughts on the subject is that it’s always a good time if you find the right investment. “I would rather work at what I know and hold onto something for 8 years through a drought and work hard at it, then venture into the unknown. She may have a point.
Not everyone is willing to learn all the investing ropes to put their money in a multitude of different investments with confidence. Some people just want to do what they do best. However, having said that, it all depends on whether you want to become slowly rich or propel yourself into wealth.
Is it still time to buy a revenue property in Montreal then? Well it all depends on your comfort zone and whether or not you want to become slowly rich or propel yourself into wealth.