17 August 2009

It's never a good time to invest

Many people get caught up with when it’s a “good” or “bad” time to invest in property. Sometimes they get utterly confused, scared and bamboozled. They feel if they “wait a few more months to see what happens to prices” they might magically feel more confident – it never happens. Either prices fall and they then they need to wait until they hit to bottom or prices rise and now they think that they can’t invest at the ‘peak’ of the market. They’re crippled and they don’t do anything. Consequently, years go by and nothing happens. A much better approach is to invest when it’s a good time for “you”. Wait until you are confident with borrowing money and you feel you can afford the next investment. When the time comes, make the leap. Trust me. The “market” will not tap you on the shoulder one day and say “hey, it’s a perfect time to buy. Prices have bottomed out and in the next month they’ll start to rise. Buy now. Buy now”. It will NEVER happen so take control of your financial future and you determine when you do something. Who the hell cares about the ‘market’ when you’re investing for the long term in quality property. “Doing” is the most important part of investing. I’ve seen too many people let wealth pass them by through sitting on the sidelines – particularly in the last 18 months.

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