Hold Your Horses
At a time when society is screaming for more rental properties to be available, investors are baulking at getting back into the market. Increasing interest rates, the threat that the property value bubble is going to burst and the scarcity of viable land has many people spooked. Many are seeking shelter and are choosing to ride out the storm rather than galloping headlong into it. So, what is there to this “hold your horses” mentality?
Being cautious when investing your money in property is always a good idea. Caution should come from having done your due diligence, knowing your own personal situation and how these factors apply to reaching your goals. With building timelines being increasingly stretched, it’s often hard to see the finishing post. Even the best bookie would be having difficulties giving you odds on where the market is going to be on completion. Property investment is an endurance event that may at times resembles a steeplechase of obstacles that need to be overcome. But it’s not quite time to put your investment goals out to pasture. Now is the time to be investigating different tracks and training yourself in being able to spot a solid prospect.
As with successful horse trainers, successful property investors have patience, are methodical and apply their craft in all sorts of market conditions. Having a range of techniques built from experience and feeding yourself with up-to-date information is the best way to make sure that you stay race ready. Rather than trying to force a win, you may be better hedging your bets and looking at the variety of options that are available to you.
So, while you may feel that there is some need to hold your horses at this point in time, make sure that you don’t have them shut away in the stable. You want to be in the starting gate; waiting to get the jump when the next opportunity arises.