Starting early definitely helps – when it comes to any kind of investing. Time is an investor’s best friend. Remember what Einstein said about compounding?
That being said, it’s never too late to start today. There is a Chinese Proverb that says “The best time to plant a tree was 20 years ago. The second best
time is now.” Investing is much the same. Focussing on what you didn’t do when you possibly could have does nothing to improve your situation. The
most important thing is to focus on the ‘now’.
There a several key reasons for this:
- At the moment in many regions (particularly Auckland), it is more a buyers’ market than a sellers’ market. This means that there are more opportunities
to be had. You are in the position to negotiate hard with the vendor and buy at a discount, which you’d find is extremely important in the property
game when it comes to accessing equity and recycling your deposit.
The key to any investment is understanding you make your money when you buy. - Real estate income can supplement your existing income. Even if it is small at first, additional income towards your bills, or even towards that next
vacation definitely is both helpful and motivating. Retirement should also be a focus, realising that one day when you stop working, you are going
to need some level of income to continue your current lifestyle. - It is a relatively simple process and not overly time intensive, particularly if you have the right team around you. This means you can get into the
real estate investment industry part-time, perhaps after hours. A past mentor once told me you can spend your days making a living,...
