No one really knows what’s going to happen to the
property markets.
There are 25 million property experts in Australia – everyone seems to have an
opinion about property. But you know what they say about opinions… they’re like
belly buttons; everyone has one but they’re basically useless.
So be careful who you listen to.
Sure it’s important to have mentors, but make sure you’re listening to somebody
who has not only built their own substantial property portfolio but somebody
who has kept their wealth through a number of cycles.
There are too many enthusiastic amateurs out there offering investment advice.
Don’t listen to who most property investors listen
to for investment advice.
Accountants are good at doing your tax, mortgage brokers can help you get a
loan and financial planners are good at minimising your risks, but none of
these professionals are well-positioned to give you property investment advice.
Timing the property market is just too hard. It’s
much better to buy the best asset you can afford and hold it for the long term.
The truth is successful investors know how to create wealth at any point in a
cycle.
Have you noticed how some investors seem to do well in good times and do even
better in bad times?
Market timing isn’t really important to them.
On the other hand, do others do poorly in good times and even worse in bad
times? Market timing seems to have very little effect on them either.
Interesting isn’t it?
Any property can become an investment property –
just kick out the owner and put a tenant in place and it becomes an investment
property.
But less than 4% of properties currently on the market are "investment grade”
and will deliver wealth-producing rates of returns
Don’t rely entirely on property data – it can be
misleading and can be twisted to say almost anything.
RealRenta
has all the tools that a property manager has, but
less than ¼the cost of a property manager.
Join now and the cost is less than a cup of coffee a
week to manage your rental property
RealRenta also has a free vision, so why not check it
out
Jason Gwerder
Tuesday, 25 January 2022
