Thomas Edison once said " Many of life's failures are experienced by people who did not realize how close they were to success when they gave up".
This is also true to real estate. There's no question that real estate investing can be very difficult for anyone, not only beginners. There are so many things to take into account and might go wrong, the stakes are high as well... Well, we're talking about one of the biggest financial commitments in our life!
When there are so many negative sentiment in the market, it's but natural that we question the soundness of our investments. Am I making a big mistake in investing in real estate? Should I cut my loses now? Should I wait to get in the market? These are the many questions in our mind. There is nothing wrong in constantly assessing our investments. In fact, this is one thing that we dont do enough in our investments portfolio. The trouble comes in when we response to a perceived threat to our investments without thorough and careful consideration of the facts. Unfortunately, we are all highly susceptible to outside noise and we let ourselves influenced by a few people's opinion, without doing our own research, We avoid the market or worse, we sell in the belief that we're protecting ourselves from further loses. Another thing we should consider in investing in real estate is create a back up or second option plan.
What we dont realized is that there are still some layers of market that we didnt take into account...Even in markets that are supposed to be overheated such as Vancouver, there are still some areas that we could go and make profits...we just have to be more creative and yes, there are still properties that could generate a cash flow in this city. Just remember this saying by Seth Godin " Seek out the difficult, because you can. Because it's worth it"