Michael Yardney tells us if it’s too late to get into this property cycle. He says timing is one of the most misunderstood concepts in property investing.

Auction continue to grow as a method of sale but there are changes on the horizon and Dr Andrew Wilson details the changes being foreshadowed as a result of many complains about price ranging.

Ken Raiss runs through the advantages and disadvantages of buying a property in your own name or a trust.

We catch up with Sellers Advocate Kathryn Fantov.  While sellers advocacy is not new, how they work is changing and she explains the change and how it might benefit you.

Do high home prices make schools better, or do homes in the best school districts sell for higher prices? Paul Osborne has studied this and joins us with the answers.

Plus… we hear the secrets of a property expert – a 25 year veteran.

 
Transcripts:
Michael Yardney
Kevin:  We’ve spoken from time to time about property cycles. Is it too late to get into this property cycle?

Michael Yardney from Metropole Property Strategists answers that question. Hi, Michael.

Michael:  Hello, Kevin.

Kevin:  Is it too late, Michael?

Michael:  Well, our property markets have performed very strongly over the last few years. But they’ve slowed down a bit now, so it’s got many investors wondering – you’re right – “Is it too late? Have I missed the boat?â€

I understand why they’re thinking that. It’s probably because it’s often said that timing is everything when you invest in property. But, Kevin, in my mind, timing is one of the most misunderstood concepts regarding property investment.

Kevin:  In what way, Michael?

Michael:  The truth is successful investors know how to create wealth at any point in the cycle. Timing definitely matters. Of course, you don’t want to buy a property right near the peak of the boom and just have to wait a few years for the property market to rise. But successful investors find timing really isn’t important to them.

Kevin:  Really?

Michael:  Have you noticed, Kevin, how some investors do well in good times and do even better in bad times? Market timing just doesn’t seem important to them. On the other hand, there are some investors who do poorly in good times and even worse in bad times. Market timing doesn’t have much effect on them, either. Interesting, isn’t it?

Kevin:  Yes, it is, mate. What is it that differentiates that small group of successful investors from the crowd?

Michael:  The fact that successful investors manage to make money while unsuccessful investors lose money at the same stage in the cycle, in my mind, means it’s not necessarily the external world that determines whether you make or lose money; it’s something inside of us.

I know many people would argue that that probably means it’s knowledge. But I don’t think that’s actually quite right, Kevin. There’s always a level of knowledge that you need – financial fluency that the average, investor lacks – but it’s much more than knowledge that makes successful investors. In my mind, it’s actually mindset, Kevin.

Kevin:  What do you mean by that, Michael?

Michael:  For some people, the current stage of the property cycle, Kevin, still makes really good opportunities around. Savvy investors see the current times as an opportunity to buy good investments.

But for others, there seems to be all sorts of negatives in the press, and they get confused and concerned by that, and they see it as the worst of times. Sometimes it’s because they are saddled with unfortunate debt or they’ve made wrong investments. But, in my mind, some people always seem to see abundance, while others seem to find scarcity.

Kevin:  Yes. Is it more than just knowledge and facts, Michael?

Michael:  I think you’re right, Kevin. That’s right. Knowledge alone won’t assure you success. I’ve seen some very knowledgeable people make some foolish investment decisions.

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