Now you’ve worked out your property investment visions and kicked them into action, all you need to do is get yourself into the market, then sit back and watch your portfolio grow.
In today’s Workout of the Day (W.O.D) property investment video, Cam and Al discuss why it’s important to remember that investing in property is a long term process.
Along the way, they trade banter about why you shouldn’t let the naysayers worry you, dismiss the current fear mongering over things like the bubble bursting and negative gearing going up, and share an anecdote about the best time to get into property investing.
To illustrate their main point, the long-term perseverance and commitment required to succeed in property investing, they highlight an example from Cam’s early property investing days.
In 1989, not long after the stock market crash, Cam purchased a property. The property market was dismal. Interest rates kept climbing. A few years later, Cam’s property was worth less than what he paid for it.
But today, when he’s asked how he feels about that property, Cam grins and replies:
“I wish I’d bought more of them at the time.”
The moral: if you can afford to buy property, and it’s going to rise in value in the long-term, don’t muck around.