Well that was the call for the past several years from all the “wise” guru’s.
Well as we saw in 2018 Property does not always go up ! – In fact like virtually every other
Investment in goes up and down ! Funny that !
What happened in 2018 and is continuing is nothing knew – in the life time of an “ old guy” like me I’ve seen this 3 – 4 times !
Also remember that property had probably gone up 30% + over 5 years so the fact it has fallen 10% + still means “most people” are in front .
|”the key to property investment is to understand that properties, over the long term returns a capital gain of 6% – 8% – good but not spectacular – where you make the real money is on the borrowing / gearing !Talk to me if you don’t understand this critical point !|
BUT – As I always said Property is a good investment provided you :
- Take a long term view at least 7 yrs. !
- Are logical / prudent in borrowing commitment
- Buy good property in good areas
- Take good advice (not from Property Spruikers / Get rich quick Seminars / Dodgy Financial Advisors or real Estate Agents !! )
Attached is an article which I came across with which I mostly agree .
It makes some very good point about the process of buying property .
In the past 2 -3 years I have had a number of occasions to provide this type of advice and it appears to be well received and helped many buy “good” property in a “good” way !
Have a read and give me a call to discuss