How about checking out investing articles (Phil Ruthven great updates and reports; see his latest on business success/demographics Phil Ruthven IBIS World August 2013) or TV shows, such as Your Property Success with Margaret Lomas on Sky Business this Saturday at 11 am. You’ll see me there (I hope – scheduling is beyond mere mortals’ control!) and some of my property adventures (I haven’t seen a preview, so it will be a surprise for me too!).
Have you been waiting for markets to settle before your next investing move? With spring approaching and the election perhaps ending some of the uncertainty, property investing marketers (and beware, some spruikers) are on the move! But so too are the more objective experts, with market knowledge and expertise. Mark Bouris reckons you could find a deal on a fixed interest loan, after Tuesday’s rate reduction, and the Reserve Bank comments that this may be the last for a while.
Many of you are asking me whether now’s the time to get into the real estate market. It depends!
Finalising contract and property law materials for conveyancers, I’ve noticed 3 principles common to these concepts, as well as investing:
- Research – what are the basic principles and rules? Property investing isn’t really rocket science, but there are many variables; how you go about it, your choices of who to listen to, what to buy and when. If you can create a framework, blueprint or process to understand your options, decisions get easier. Structure and knowledge can give you power and freedom, some say!
- Context – investing and finances often raise emotions, what you decide to invest in varies depending on your circumstances. Where you are and what you want to achieve; all that planning, goal setting, risk profiling stuff! What’s your strategy – property, shares, positive cash flow, negative gearing, capital growth, yield, to buy and hold, develop, invest overseas – or more unconventional, creative or risky ones?
- Motivation – even if you’ve sorted through 1 and 2, can you be bothered? There’s a lot of psychology around information overload acting to excuse lack of decision making and action. How long have you been thinking about investing?
If you are going down the path of direct real estate investing, do your research, put things in context and hopefully you’ll get motivated.
Checking out our extensive list of people in the industry,
our Facebook page and what the experts (or green gurus!)such as Margaret Lomas, Peter Kolouzis, Scott Pape and Alan Kohler are saying will help you on your way. Good luck!
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