Investment Education – Waiting for the perfect moment
The idea of “the most important moment to buy” is an idea we come up against with many new investors and it's totally out of whack with reality.
A new or inexperienced property investor always speak of the ‘perfect moment' to buy. They speak as if an individual has the ability to pick the perfect moment to buy property. They speak as if in the entirety of the property cycle there is but one precious and sacred moment… The perfect moment!
Hmmm… Since I was a kid when my parents had me working a renovation flat they had bought I have known one all important point… There is but one precious and sacred moment to buy property… The perfect moment… And that moment is now!
Now, now, now, now!
So… am I agreeing with these inexperienced investors?
Not at all! Their moment comes but once and it's always in the distant future somewhere, sitting right beside the fantasy land of ‘millionaire is easy and will take no longer than 3 to 5 years' or if you really want to be scared no more than 12 to 24 months.
My moment is now because it occurs every single moment and is always a point in time that I have the capacity to control and now is that moment.
My moment doesn't mean that I buy property stupidly and without due care, it means that rather than the variable of ‘when I buy', I simply ‘change the strategy under which I buy' and this is the key to buying in every ‘NOW' moment.
Strategy is one of the most overlooked and misunderstood aspects of property investment, for the simple fact that you will own a property through many different stages of the property cycle. The ups, downs, stagnation and the booms, you are likely to hold your investment property through it all and yet how many of us actually think strategy before we buy?
We think solicitor, interest rate, redemption charge, location, but seldom do we stop and say – what is my strategy for this property? Or even more important, is this the current market, what is the strategy I should apply to ensure I profit at the purchase and maximise my return.
If you aren't asking these questions before you buy or simply don't know where to start, give the team a call on +44 (0)207 923 6100 and they can help you answer the question of strategy.
Live with passion,
Brett Alegre-Wood
