Many years ago I jumped into the stock market - around July '86 was it ? Anyway I was making lots of money until the October crash which wiped out all profits and more...
Thus, in my present determination for a go at PI, I would like to make sure I get off on the right foot, even though I am looking at long term investment, not short term speculation. I have been told about the 7-10 year property cycle. Should I hold off buying a cheap house for minor renovation and rental until the boom has lapsed into bust phase ?
If so, how long should I expect to wait - a year or two ?
I am located in and would look to buy in Far North Qld.
Thanks, Oxossi
Thus, in my present determination for a go at PI, I would like to make sure I get off on the right foot, even though I am looking at long term investment, not short term speculation. I have been told about the 7-10 year property cycle. Should I hold off buying a cheap house for minor renovation and rental until the boom has lapsed into bust phase ?
If so, how long should I expect to wait - a year or two ?
I am located in and would look to buy in Far North Qld.
Thanks, Oxossi