Learning from Warren
If you want to learn, you want to learn from the best. When it comes to investing, one of the most successful in the world is Warren Buffet, who has amassed a fortune across a number of years. Buffet publishes regular articles and reports, and is one of the world’s most quoted investors. So what can we learn from his wise words that could help us to invest successfully in property? Let’s look at a few of his quotes …
“Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.”
This is especially relevant with today’s real estate market, where positive patterns are harder to discern. Cooler heads prevail in this type of market which can scare off your competition too nervous over the fluctuating market. Likewise, for a variety of reasons, there will always be sellers needing to commit to a sale, providing a possible bargain for the savvy investor.
“Risk comes from not knowing what you’re doing.”
This is one of our favourite Buffet quotes, and if you have followed our blog for any length of time, you’ll have read many times that one of the keys to successful investing is the groundwork you do so you do know what you’re doing. This might mean investigating suburb details beyond the street you are looking in: property yields and tenancy rates are just two things you should be exploring.
“It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”
In real estate terms, this can translate to “buy the worst house in the best street, not the best house in the worst street.” It also means that you need to be clear on the amount you spend and know the real value of the property in which you are looking to invest.
Accrue Real Estate have spent years helping people realise their investment dreams. We know the Melbourne market and have done the groundwork on the suburbs best suited for investment. Let Accrue Real Estate help you find your way to property investment success.