PHOTO: Australian suburbs and Aussie dollar coin. Source: Getty Images
It looks like we could be nearing the bottom of the property slump.
This has led to many mixed messages in the media and this together with uncertainty about our economy and jobs is causing a feeling of confusion for many investors.
But what is certain in these times of uncertainty is that some property investors will grow their wealth by taking advantage of the opportunity the market is presenting them.
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While many Australians will sit on the sidelines waiting for someone to ring the bell heralding the property market has bottomed, savvy investors will be out looking for and buying investment opportunities created by the current buyers’ market.
Here are 11 time-tested rules that these successful investors use to make their fortunes.
1. Take a long term perspective
It is well documented that delayed gratification leads to a better financial position and a better lifestyle in general.
Warren Buffet put it well when he said: “Wealth is the transfer of money form the inpatient to the patient.”
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