Saturday, September 24, 2011
Property Investing Stalemate
Tonight I'm going to write about what has recently happened to me regarding the world of property investing. Since 2006/7, I have continued to feverishly gear myself towards becoming an 'expert' property investor (whatever that means). It got to a point where I was confident enough to give those people that were prepared to listen, some advice. But something happened. Something in 2008, after I luckily unloaded some properties at exactly the right time before the GFC, I began having doubts. I still visited re.com.au, Somersoft was still my friend, but, as you can see on this blog, I no longer posted as much. I no longer went out looking for bargains. I no longer did the 'research' that was so familiar to me. Something inside of me got spooked. And now, as I sit here contemplating the last few months of my life, I have came upon the realisation that indeed, things have changed. Capital gain, in my world anyway, is no longer a sure bet. Rental income, again for my properties, do not always go up what they need to, or as much as they need to. Things like sliding doors break and with stupid quotes of $1700 to replace it (needs new rollers that the maintenance guy can't find) I begin to think if it's really worthwhile? Our house in Ingham, hit by the cyclone, has been a constant chase up with insurance quotes, lazy/busy/incompetent property managers, and the apparent inconvenience of 'distance investing' comes to the fore.
But alas, I think its just my sentiment at the moment; property investing is too risky, especially on a single income.
Anyway, just to summarise, I no longer consider myself an authority at any level regarding property investing. I'm still learning, there is still hope that my portfolio will blossom again, but for now, its a waiting game.
Until next time....