The Property Couch 1 | We Fix Bad Property Investment Advice
9 snips
Feb 23, 2015 The hosts discuss the importance of accurate property investment advice, common regrets and challenges for property investors, and the mistakes people make in property investment. They also emphasize the importance of finding a trustworthy advisor.
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Early Property Buying Lesson
- Ben shares his experience buying a property at 23 near his parents with only one bid at auction.
- The agent knew his budget from earlier conversations, showing how agents gather info subtly.
Sold Melbourne Property Too Early
- Ben took advice from a tax advisor/solicitor who recommended selling a Melbourne property and buying in Sydney.
- He sold for $167,000 but could have had $600,000 today if he held on.
Avoid Procrastination and Wrong Asset
- Do not procrastinate when deciding to buy an investment property; the market keeps moving.
- Avoid buying the wrong asset as the asset quality drastically affects investment performance.