FILTER YOUR NEWS

Be careful when you watch the news. Because if  you’re like most people, you get updates about the property market from the news. 

And that’s probably a mistake. 

Why? Because usually what you see in the media is quarterly or monthly data. And people see that data, come to conclusions, and make decisions – all without getting the full picture.

Remember that real estate investment is a long-term play!

And in fact, if you’re looking to get in and get out within 12 or 24 months, you probably should not invest in real estate.

Why?

Because in my book, you’re gambling. 

Here’s the thing…

Real estate works on certain principles and laws. Savvy investors understand those laws and use them to their advantage. Or, they work with people who can advise them accordingly.

Ultimately, though, it’s a long-term play. So, you can’t make decisions based on what you see in the media and what the market did in the last quarter or month.

It’s inaccurate.

You’re not getting the full picture.

For example, some markets may have gone up 22% over the last 12 months but the media didn’t report it. Yet, when that same market drops by 10% in a shorter period, people freak out.

You can also take it into perspective.

If you went up by 22%, can you afford to lose 10%? You’d still be ahead by 12%, right?

But you don’t always get that data in the media. If you don’t have that information, you don’t really know how that 10% drop affected you because you may not know about the 22% spike.

So, exercise caution when you’re looking at data. When in doubt, consult a reputable source to make your decisions.