A lot of mum’s and dad’s that I have been speaking to lately seem to think that buying an investment property or a principle place of residence to live in as a property development project (to later flip for a profit and skip out on paying any capital gains tax..) is the worst idea in the world.
What do you think?
Personally, I think it comes back to the old adage about whether you are an optimist or a cynic? Do you see the glass as half empty or half full? There is an old Taoist saying that goes something like, where there is problems there is opportunity. Or something like that.. And personally, I think this is the exact situation we are currently in, both in the property markets and also in the share market.
When there are a lot of people worried about how things are traveling, that means there are less people able to make that strong decision when a good investment option comes up. Basically, you have less competition. Which is a good thing.
A good investment remains a good investment, no matter the market conditions. Coke is always a good buy. As is Birkshire Hathway.
If you are a value investor. And you are a long term investor. You will never go wrong.