Post to Facebook on 16/10/2019 12:44 PM
Commenting on “Two-thirds of property investors make the mistake of buying in their own backyard”
I can’t see anything wrong with investors buying in their own backyard, and sometimes, it is “better to deal with the devil you know the devil you don’t”.
Many researchers are not investors, and their study and argument are sound in theory, but not necessarily feasible or viable in practise.
When I first joined a real estate agency, only the bosses and the receptionist had access to the computer. There was no Google. Most of the data collection and research had to be sourced with a lot of hard work.
However, I managed to find out that over 80% of the agency’s buyers did not move out of the suburbs, and more than 95% are from the same or surrounding suburbs.
Not all people are savvy with computers, especially the older generation. They still let their legs do the walking, and rely on the agents that sold them their last family homes as the source of information. As you all know, it is easier said than done to find the goose that lays the golden eggs.
This report has some truth in it, so if you have some spare cash in investing in another property, look beyond where you live. The chances are, you still come back to your familiar territory.
Thank you for reading.
Commenting on “Two-thirds of property investors make the mistake of buying in their own backyard”
I can’t see anything wrong with investors buying in their own backyard, and sometimes, it is “better to deal with the devil you know the devil you don’t”.
Many researchers are not investors, and their study and argument are sound in theory, but not necessarily feasible or viable in practise.
When I first joined a real estate agency, only the bosses and the receptionist had access to the computer. There was no Google. Most of the data collection and research had to be sourced with a lot of hard work.
However, I managed to find out that over 80% of the agency’s buyers did not move out of the suburbs, and more than 95% are from the same or surrounding suburbs.
Not all people are savvy with computers, especially the older generation. They still let their legs do the walking, and rely on the agents that sold them their last family homes as the source of information. As you all know, it is easier said than done to find the goose that lays the golden eggs.
This report has some truth in it, so if you have some spare cash in investing in another property, look beyond where you live. The chances are, you still come back to your familiar territory.
Thank you for reading.
