Are You Prepared for Property Investment?
Being a landlord isn’t easy. While the general public might think it’s a safe way to obtain wealth, the reality tells a different story. Before deciding if this is for you, take a moment to envision this process as a learning experience with ups and downs. It’s a long-haul, not a "get rich quick" scheme.
In the same way, you should keep in mind that investing in real estate is not a very liquid investment method; once you invest, your money is tied up and won’t be immediately available. In practical terms, the selling process can take much longer than you expect.
You’ll also be at the mercy of the current state of the real estate market. If the market is cold, your investment may feel like a burden and you might find yourself trapped. Always be prepared for factors that are out of your control.
However, if you are looking to invest your money into a medium/long term investment scheme (more than 6 years), then property investment is probably one of the most solid and reliable investment activities available. Historically, real estate prices have risen over time. Everything that happens in the meantime is generally part of the cycle, which includes occasional dips and dives.