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Aussie Dollar steadies against Greenback! Gold rises to 3 week high! Strong Dollar knocks crude off high! Wall Street extends rally into New Year! Energy bills soar in shift from coal! Oil slides! Blah! Blah! Blah! This is news? What’s new about it? Imagine being beholden to all that stuff! Thank you God for leading me into property!
There is something about investing in property that is really consistent, positive, and if handled correctly, thoroughly safe. Why? Let me explain.
1. There will always be somebody who will help you pay off your property. Not so, with other investments.
2. If property values fall – all values fall – not just yours, so, unless you sell, you haven’t lost a thing.
3. If property values rise – all values rise so you haven’t really made money on your own home – but you have on your 2nd, 3rd and 4th property – but only if you sell.
4. Ultimately all property will rise in value, simply because the population is growing and everyone has to live somewhere. (Proximity to any city or coast always performs better than outer areas).
5. No-one can take your property away from you (we won’t go into divorces right here).
6. You are in charge of your own destiny – you don’t have complete strangers playing with your money.
7. You can always do things to make your property more valuable.
8. There are tax benefits available when you own property.
9. Property bought early in life will give you a non-diminishing income in your old age.
10. Property has its own in-built stability. It’s local, it’s real, it’s flexible and it’s loyal.
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There is only really one basic rule when it comes to property and that is “Don’t go in over your head”. Don’t over-speculate. That’s the only way you can lose on property. When you can’t afford the repayments even when you have a tenant paying the rent. Or if you put your trust in some conglomerate that you have no control over. Always control your own destiny as you are the only one you can really trust when it comes to your money. Don’t enter into any great money making schemes that sound great – nobody is interested in making you money, they are only busy making themselves money at your expense, so always be your own person and make your own decisions.
As for advice? Be wary. Only ever take advice from someone who has achieved success and who is genuinely interested in you doing the same. Avoid the “helpful friend” syndrome who will talk you out of doing anything because they haven’t got the guts to do it themselves. They’re everywhere!
Don’t be scared of property – it won’t hurt you. Now is a fantastic time to buy property, so start looking now. The only bad decision you can make, is not making a decision. Just make sure you buy something affordable to you (allow for an interest rate rise) and just go for it! It will work out.
So let’s enter 2017 with confidence, positivity, action and determination and make it your best year ever!
Happy New Year to you all!
Source: Blah Blah Blah, Western Suburbs Weekly, Residential – 9 January 2017