While reading “Waiting for the Big Switch” by Bernard Salt, in the Feb 2011 Australian Property Investor (API) magazine I came across this question, “What sort of investor are you?”
And, boy it confused me. I thought to myself, “I don’t know, is there any other sort?”
I was further confused when the author gave me only two choices as follows:
Category 1: “Are you the sort of person who believes that this nation must expand and therefore reverse current policy that restricts the level of immigration?”
Category 2: “Or are you the sort of person who thinks that Australia is beset by problems that can only be solved by suppressing the rate of population growth?”
Wow! I have no idea! I have no idea what he’s talking about! At least not in relation to property investing!
I must be way behind the eight ball because I never consider immigration policy when evaluating an investment property.
So, I guess I’m the sort of investor who doesn’t fit into either category. Does that mean I’m not really an investor? After all, I don’t fit into one of the categories. I don’t even really understand the categories and/or what they have to do with making a property investment decision.
But, just when I’m feeling the most confused, I refer back to my article “When is the BEST time to look for investment property.” In that article I talk about what Jan Somers has to say about property investment and I take heart. Let me repeat here what she says,
“…, we’re ALWAYS on the lookout for any sound investment property that comes along and will continue to purchase selectively, regardless of the economic or market conditions.”
I just love the last 7 words, REGARDLESS OF THE ECONOMIC OR MARKET CONDITIONS!
Whew! That is such good news.
I think what Jan’s telling me is to focus on the property deal and never mind all the politics going on around you. I think what she’s saying is most of the politics is noise and you have to keep your head in the property investment game – focusing on the task at hand – and be out there looking for the deals as they pop up. If you’re not looking you can’t find them. And, if you’re not looking because you’re waiting for some economic indicators and/or immigration policy decision, you could miss out big time!
Anyway, that’s my interpretation.
So, now, over to you; how would you answer the question, What sort of investor are you?