When to Buy, Hold or Fold

When to buy should be based upon answers to important questions. Do you have or can you get the wherewithal - not only for a purchase, but also for the carrying costs of ownership? Can you stand a total loss? Have you done thorough due diligence – inspections, audits, estimates, etc.? Is property available that matches your plan and your pocketbook?

To hold or not to hold - that is the question! Actually the answer is up to you. If you can acquire a property with immediate upside potential, perhaps it’s feasible to resell soon after you’ve maximized the value. BUT, if you need or want to wait for market appreciation, then you should hold.

Whether to fold is important. You should have an exit plan in mind, before you ever consider building, buying, leasing or financing anything. Profit is about timing and affordability. Take care not to risk everything in the real estate world!