When Is The Best Time To Look For Investment Property?
Okay, when is the best time to look for investment property?
I’ve found the answer to this question! I found it while reading Australian Property Investment (API) Magazine way back in February 2011. The answer was buried in with a bunch of other “candidate” answers.
So, when I say I’ve found the answer, what I really mean is … I found the answer that I believe is correct, the one that works for me. You may disagree. And, that’s ok. If we ask twenty people “when’s the best time to look for property?” we’ll probably get twenty different answers.
Now, before telling you the answer I selected, I’d like to start by listing the answers I discarded, the ones I tossed out, the ones that didn’t work for me. My discarded answers list is as follows:
- “This year is a great opportunity for property investors.”
- “2011 is going to be heaven.”
- “In 2011, I will certainly be a buyer rather than a seller.”
- “With the new year bringing good market conditions, it could be the ideal time to invest in property, …”
All these assertions (opinions), strongly suggest that 2011 was a great time to look for investment property.
All good, but it doesn’t answer my question, “When is the BEST time to look for investment property?”
Yes, 2011, may have been a good time to look; may even a great time to look, but was it the BEST time?
Nope. Not the answer to my question.
I kept looking.
Then on page 16, I found it. The answer! It’s simple, straightforward, and easy to understand.
Get out your pencils! Write this one down!
Drum roll, please ….
QUESTION: When is the BEST time to look for investment property?
WINNING ANSWER: ALWAYS!
Not as spectacular as you expected? Sorry. Normally, the best answers are not long-winded, not complex, not convoluted. No, they’re usually just plain and simple. Just the way I like em.
Where did this answer come from?
From a tried, true and tested property investor, a property investor with many years of experience, experience going back over four decades. I’ve read two of her property investing books. I’ve attended a property investment seminar featuring her as a guest speaker.
Most Australian property investors have heard of her. She’s well known in property investment circles. She’s Jan Somers – property author and millionaire (as it says in API magazine!)
There’s more to Jan’s winning answer than the word “always.” Here’s the full text,
“…, we’re ALWAYS (my bold and caps) on the lookout for any sound investment property that comes along and will continue to purchase selectively, regardless of the economic or market conditions.”
I can relate to what she’s saying. I’m always looking for property. I look even when I’m not looking. I’ve even bought property when I told myself I wasn’t looking. But, guess what? I was looking and didn’t even know it!
When I read Jan’s explanation, the word “always” hit me like a tonne of bricks. Why on earth would you stop looking? Why would you take six months off from looking? Because someone told you the next six months would be a bad time to look? Is that a good reason?
And, I’d like you to pay close attention to her last phrase. It’s only seven words but they sure are powerful and seem to go against the mainstream thinking. But, I believe they go hand in hand with the word “always.” So, I would highly recommend you remember Jan’s words as follows:
“…, regardless of the economic or market conditions.”
For more on Jan’s property investment philosophy, I’d highly recommend you read her books. A good start would be “Building Wealth Through Investment Property.”
Thanks Jan for sharing this powerful property investing wisdom, this powerful nugget of knowledge based on years of direct property investment experience. I appreciate it.