This week on Ask Rob & Rob, Paddy asked:
What do you do in a boom?
Slow and steady wins the race. This question (as many do) refers to the 18-year property cycle, so be sure to check out our episode on that. The answer talks about looking at your portfolio in the period leading up to the perceived crash, and weeding out any properties that you think don’t quite cut the mustard. This will give you a large cash sum to go after the market while other people might hold off.
If the right time to invest for you is in the perceived boom point, just before the crash, you could look for yield properties, but in all honesty, if you’re at the top of the market, you’re going to struggle to find a good yield.
The simple answer is when you’re coming up to the point of a big boom, the best thing to do is nothing. And yet that’s going to be the time when everyone is telling you to invest, because they’ll be pointing to all the strong growth in the past few years, and how the good times are never going to end. If you do have to buy, the key is going to be having enough capital to see you through.
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