When I moved to Vernon in 1999 I bought a 3 bedroom house with a partially finished basement and double garage for $125,000. That house is worth over $300,000 today. The market was low. I considered buying an investment property at the time but changed my mind.
I understand (hopefully as a realtor with 20 years experience) the "Buy Low, Sell High" concept and yet I fall into the same trap so many people do. When the market is low (as it is right now) everyone thinks real estate is a bad investment. The press push the "bad market, slumping sales, declining prices" headlines almost daily. Everyone is waiting for the market to improve. WRONG!! We are in the "Buy Low" phase of that never changing concept. Buyers buy NOW!! This is how investors make so much money in real estate. When everyone else is afraid to invest in real estate, they buy. When the market is strong and high, as it was in 2006 to 2008 and everyone is buying, they sell.
It feels unnatural to go against what everyone else is doing. All the sheep are heading for one field and you have to head in a different direction. I am often asked, by very intelligent people, how do people make SO much money in real estate. THIS IS THE SECRET!! Nothing more complicated than this. Buy Low, Sell High. It is LOW right now.
Don't say I didn't warn you. The market is low, This will not last forever. In fact, the tide is already beginning to change. This window is going to close soon.