A common misconception about property investment is that you should wait for the ‘right time’ to make a purchase – but what if the right time was yesterday?
One of the biggest dangers to creating wealth through property is misinformation, and one of the biggest problems is that people are not getting advice from successful investors.
You owe it to yourself to have the facts in front of you before you make a decision, which is why I want to bust the 'readiness' myth today.
The fact is that every day you choose to sit on the sidelines you will be watching prices and rents rise steadily. Right now the market has slowed down a little, so now is a great time to jump in and get one (or more) of the bargains out there.
Now, I’m not saying you should invest if it puts you in financial peril. But if you are financially ready, then you should seriously consider jumping in. Waiting won’t make you money. And it's not until you speak to someone who knows how investing works that you will realise you could have started earlier and created your own fortune by now.
First of all, let me ask you... what advice would you give yourself if you could travel back in time 10 years?
Most people would give their younger selves the winning lotto numbers, when in reality, you’d be better advising your younger self to buy property in good locations, because 10 years ago the median Perth price was $413,000 and now it’s $540,000!
Waiting might make us feel safe in our comfort zone, but nobody achieved anything great without pushing themselves. The only thing people get by staying within their limits is an 'average' life.
Without any ego, I can call myself a successful investor. I’ve personally closed more than $1 billion in real estate deals in my career, and own a portfolio that means I could walk away from my company and travel the world any time I want (although, luckily enough, I get to enjoy life and create my vision here at Investor Assist all at the same time).
I’ve also personally helped create countless property millionaires here in WA and across Australia.
One of the biggest reasons why I wanted to dispel some of these common myths is that I want you to be able to make sensible decisions based on solid information, not myths or fear-mongering, so that you can be in the same enviable position as myself.
Peter Gianoli joined ABN Group in 2011 to establish Investor Assist. Peter has more than 15 years of experience in the property industry working across some of the country’s premier development projects and throughout his career has overseen the sale and settlement of properties worth in excess of $1bn. Peter is also a highly sought after public speaker and has educated audiences throughout Australia and around the world on topics including property marketing and investment.