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.
Ask your own question to Rob & Rob!
Don’t be shy! All you need to do is leave a message with your name and whatever’s on your mind.
Just pick up the phone and call 013 808 00035 (normal UK call rates apply).
Or if you prefer, click here to leave a recording via your computer instead.
Need more answers?
The Property Hub Summit is the place to get all your questions personally answered by Rob & Rob, and build a network of other smart, motivated investors.
Over the course of a full day at a swanky hotel we’ll help you set your goals, form a plan to get you there, overcome your obstacles, and give you the support system you need to make sure nothing gets in your way.
Just don’t hang around – there are only four Summits each year, and just 16 places available at each!
Interested? Click here to find out more.