Be in the market!

From: Apprentice Millionaire

G'day all!

All this talk of recession, and people worrying. I learned one thing from this forum: it is more important to be in the market than try to time it!

My mortgage broker sent me the little poem I appended below. I don't know the author, but from a soon-no-longer-to-be-newbie (I am very close to getting my first IP!!!), it is a message to other newbies. Go for it guys!

Apprentice Millionaire
(aka Jacques in the old forum)

"A Reluctant Investor's Lament"

I hesitate to make a list
Of opportunities I missed;
Investments that were in my grip
I watched them through my fingers slip
Prime properties I should have bought
Were lost because of over-thought;
I thought of this, I thought of that,
I could have sworn I smelled a rat,
And while I thought things over twice,
Another grabbed them at the price.
It seems I always hesitate,
Then make my mind up much too late.
A very cautious man am I,
And that is why I never buy.
I chose to think and as I thought,
They bought the house I should have bought!
The golden chances I had then
Are lost and will not come again.
Today I cannot be enticed
For everything's so overpriced.
the deals of yesteryear are dead;
The market's soft - and so's my head!
At times a teardrop drowns my eye
I had the chance, but did not buy;
And now life's saddest words I pen,
If only I'd decided then!
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Reply: 1
From: Michael Yardney

Recessions are fantastic - unless you're highly leveraged or negatively geared, and the experienced property investors out there wouldn't let that happen - would you?
I feel this is the best time in the property cycle.
Let me explain…….
Recently I looked back to when I have made my greatest profits in property over the last 30 years and I realised that I made my biggest profits by buying well in times of doom and recession, such as the early 1990’s, 1987 after the stock market crash, the early 1980’s and during the difficult times of the credit squeezes of the 70’s. This is because after each downturn, there has been a boom.
Take advantage of this one, as it will be your last chance to get set up like this for at least another 7 years. BIS Schrapnel, the economic forecasters, have predicted a 1980’s style boom ahead after this little downturn. Get cashed up and take advantage of the opportunities when there are some motivated sellers and fewer buyers
Michael Yardney Metropole Properties
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Reply: 1.1
From: Gee Cee Cee

I think I said similar a little while back and everyone bagged me.

I was only speaking from experiences gained since 1978. Booms/Bust/Crowds/Follow the herd.!!!!!

But I am just the old conservative one
Gee Cee
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Reply: 1.1.1
From: Thorpey !

Hi folks,

I have been hearing a theory about how the ownership of homes is changing & will continue to change with people renting more than owning their own home.
I can agree with that to some extent, the younger ones being "savy" stock market investors etc. & preferring to place their $$ into that channel.(Hope they are careful right now)
People wishing not to be tied down as well.

Anyway,I see this as being great for investors with strong rental demand, but how will it affect prices ?

Will it mean lower prices due to weak demand or will prices behave the same with investors falling over themselves to gather IP's, and cash in on the rental demand ?
Does anyone think this would : 1)Eventuate & 2)Change the landscape of IP investing ?

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