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Will You Buy Your First Investment Property In 2010? Or Are You Stuck On The Rat Wheel Of Indecision?
The first step is always the most difficult
This is not some Zen like proverb but rather reflects my experience in talking to people thinking about buying an investment property. Nearly everyone knows it makes sense to invest in property but logic often cannot overcome emotion; people are afraid to invest and make that first purchase.
A great book to read to understand how to overcome this is “Feel The Fear And Do It Anyway” by Susan Jeffers.
Always there are reasons for not taking action; the wrong time, markets too hot, markets too slow, we won’t find a renter, I know someone who knows someone who heard about a friends friend who lost out investing in property.
Naysayers are especially prevalent. These Victor Meldrew‘s ( for fans of English comedy ) are all experts on why not to invest in property and will tell you so. In the next breath they explain how much they made when they sold their last home! Unfortunately all this profit was spent on another home and did not go into their pocket. BUT for a split second when the cash was in their bank account before flying out to purchase another house this was probably the most money they ever had.
Property investment is not for everyone.
However don’t let fear stop you from making that first investment property. I can more than happily put you in touch with investors who in the last 12 months had exactly the same fears and worries but took the first step and bought an income generating property and in many cases quickly bought a second.
Just contact me if you want to have a very informal chat about investing.
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