Over the past 25 years, I have noticed that those who are least likely to make it financially are those who always want to wait before Investing in property.
Waiting to see what the market does, waiting to see if their Job is secure, waiting to see which government will be elected, waiting to see what the banks will do, but the truth is they are just scared, they are letting fear rob them of creating a secure financial future for their family and for themselves.
You see, none of the above really matters as Property Investment is a long term Investment and is not done for a quick profit. Over a 10 year period all of the reasons above are likely to occur, change of government, fluctuating interest rates, changes in Jobs, market fluctuations.
I have seen people watch the market for 10 years and still not get started. With 10 years elapsed they should be enjoying the profits, they should have their mortgage paid and some lifestyle funded from their portfolio however they are still in debt, struggling financially and waiting to see what happens before they get into the property market.
What really happens is that they let fear get in their way, then years later when the market rises substantially, they live with the regret of not starting earlier.
Let’s look at the property market, over the past 140 years in Australia, we have had 2 world wars, 2 minor wars, stock market crashes, labour governments, liberal governments, high interest rates, low interest rates, high inflation, low inflation and yet through all of that, property has still grown substantially every decade for the last 140 years and will continue to do so.
The key for property investment is not timing, but time in the market.
Don’t let fear stop you from achieving your financial goals, don’t wait! Property is not bought for today, it is for the future and can be very rewarding. No one ever became financially secure by waiting, only by acting and getting into the market.
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