EP 38 – Why 2021 could be bad news for these property investors
If you’re looking to buy an investment property in 2021, it could be bad news if you make this one critical mistake.
And in this video, I’ll show you what that mistake is and how to avoid it. Now don’t get me wrong. I think property prices are set to keep increasing for quite a while yet, especially in certain key markets. But I am seeing certain individuals who talk about helping people invest, promoting these types of properties. And they are a recipe for disaster – maybe not immediately but almost certainly in 2023 / 2024. (Remember, property investing is a long term game) Worse, these types of so called “investments” tie up your money for years which could make you miss out on other opportunities. So it’s a double whammy! What sparked this week’s post is I was scrolling through my social media feed recently. And I saw an ad for someone who was talking about helping people invest in property. And what I saw really scared me. Then I heard from a mortgage broker, who tries to point his clients towards certain properties for a good commission (Ahem!) That he was doing the same thing. And the worst part was, he was using shiny glossy brochures to hide the fact that what he was promoting was in one of the most oversupplied markets in the country. I can almost bet that he didn’t even know about the oversupply issue… and but then again, he didn’t care. But you should. That’s why this week’s video is important to you. In addition, I also cover *** Why the horror stories of 2017-2019 in Sydney are bound to repeat themselves in the coming few years (I have countless examples of people who lost over $100,000 cash… and I can see the same situation repeating itself. So make sure you avoid these “investments”) *** If you can’t afford a house in a good suburb, then just buy an apartment there, right? Wrong! Why that’s the biggest mistake any aspiring investor can make… and what to do instead
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August 13, 2021