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Always Have A Plan B

Always have a Plan B

When you’re investing in property a sensible investor always has a Plan B ready if their main plan or idea falters.

Property investing is risky to a certain extent, so to only rely on your main plan is somewhat foolish.

The most common thing I’ve seen over the years is a change of personal circumstances causing a rethink.  You’d be amazed at how many people I’ve seen buy a property for long term gain, i.e. Retirement income, only to sell it to buy a flasher house to live in.  So swapping a property that earns income for a bigger house to live in that makes no income and costs money to run.  Real good idea – NOT.

Sometimes circumstances that arise are genuine and will require a rethink, and perhaps a portfolio reshuffle.  Don’t leave it to when it happens, always have that Plan B in mind at the beginning.

Be prepared, as they say.

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