You can count them on this graph.
Personally, I haven’t missed any since 1998.
Can you guess why that is? The reason is because I bought my first property in 1998, so I’ve had my toe in the water ever since then. Sure, there have been a couple of slower periods in that time too, but if you don’t sell your property in a slow period what do you lose? Nothing! If you sell your property during a boom what do you get? A lot more money!
It’s not that hard really if you’re interested in investing in property. A little bit of saving and a little bit of watching your spending to start off with, buying your first home, at the right time, use the equity in your home and maybe some more savings to buy your first investment property. Are you still with me! Of course you are. As I said, it’s not rocket science is it? A little bit of work? Yes, but hard? No. Once you have 2-3 investment properties things can become a little flexible.
Here’s what I do – When there’s a boom on, like the one we’re very likely on the brink of just now, I sell one of my properties and cash in on the sudden rise in prices. The profit I’ve made, I just sit on a re-drawable mortgage or offset account of another property or two.
This gives me two huge advantages:
- I have a greatly reduced interest bill on those mortgages that are holding the extra cash; and
- I have a ready supply of cash for a deposit on any new opportunities that may come up in the future.
If I haven’t used the cash before-hand, I certainly keep a close eye out for opportunities in the times just before a property boom period………like right now or any of the other property boom periods in the graph above. This is where investors make money and build their property portfolios.
As we speak, I currently have part of my A Team, carrying out a HUGE, complicated financial restructure, involving a number of investment properties, to make way for what’s coming. I for one, certainly don’t want to miss out on what’s coming our way in the next 1-2 or even up to 3 years.
So long as you have your finance arranged, now is the time to look for new opportunities. With the banks predicting double digit growth rates, with Brisbane the far and away leader in some predictions, things are looking ominous for anyone who isn’t in the property game yet. The way things are looking currently, properties could rise in price quite significantly in the next 12 months. If you leave it until then to buy, you’ll be paying the extra $$.
At PPBA, we can help with valuing your property, finance, conveyancing and other legal matters, property management, and removals. If you need to sell your current house to free up cash for your climb up the property ladder, we have associate agents who can do that as well, while we help you move forward into your new dream home.
If you need a hand, give us a call at PPBA – 0490 020 801.
Subscribe to our Newsletter