Sometimes properties won’t perform exactly how we want them to, should we just get rid of them? Luisa bought some properties, but hasn’t seen any growth over the past 6-7 years, which can raise a whole lot of questions. Were they a mistake? Will it ever get better? Are they even worth holding on to?
My answer comes in three parts, three concepts that every investor should keep in mind.
- Firstly, knowing how the market works. Property is in a constant cycle, going up, coming down and going sideways. Sydney was a perfect example of this, where the market was stagnant for years and years before reaching a period of great growth.
- Secondly, with this knowledge that property is moving in a cycle, by diversifying you can access different markets in different stages of the cycle.
- Finally, persistence. It really is the time that you spend and invest in the market. Only by having patience and waiting for the right time can you make the most of your investments.
P.S You can also listen to our episodes on our Podcast – The Kevin Young Show
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