This old saying has never been more relevant than it is today as the world pandemic and consequent economic situation seems to just get worse.
So, this month I am going to share with you 9 ways to ride out the pandemic. Some of them deserve more than a mere mention in this post and I’ll come back to them in the days ahead but here’s what I believe is important right now:
- Don’t believe the media. Trust in experts who’ve seen enough economic cycles to know that this too shall pass.
- Choose a sensible, well-thought out, long-term property investment strategy and stick to it.
- Cash is king, so always have cash reserves available you can draw on.
- Choose your investment property based on logic not emotion.
- Don’t follow the herd. Contrarians often come out the winners.
- Consider location very carefully as this is where many mistakes are made.
- Demographics drive markets but they can also change. Keep an eye on the trends.
- Apparent bargains are often cheap for a reason. Be wary.
- Manage risk carefully so should unexpected events occur as they have this year, you will not be caught out.
These might seem eminently sensible tactics but it is surprising how many people end up going down the wrong property investment path. Don’t let that be you!