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Bad investment habits you should toss right now

Monday, April 30, 2018


Let's be honest, even the most prolific investors get into the occasional funk and stuck on some pretty bad habits. Don't worry. Good practices are just as easily habit-forming as bad. Start by doing a quick stocktake on how you have been investing to identify any areas of weakness or poor practices that can be improved on. We have got together with some good friends of ours to tease out the most common and obvious investment no-no's you should get rid of, pronto!

 

Ryan Smuts, Kris Pedersen Mortgages & Insurance

Analysis Paralysis! Don’t get bogged down on analysing deals, it’s best to just get in there if it suits you and fits your buying rules, because the longer you wait, the more likely you are to lose out. 

 

Andrew Bruce, APIA

 

Don’t buy on emotion, know/research the value of what you are buying.


 

 

Peter Lewis, APIA 

Take your time to select the right tenant for your property. Take time to check them out through TINZ, take the time to check their references, take time to talk to them and understand their attitude to life.

A tenant in a hurry to move in represents a danger signal. Why are they in a rush to leave their current tenancy? Why is their current Landlord keen for them to go? If they need to give appropriate notice where they are now and then move across to your property in an orderly and businesslike manner, that probably is the tenant you want.

 

Nazla Carmine

Thinking you can just Set-And-Forget your portfolio because you have property managers, fixed-term tenancies, insurances etc in place. Things always come up, especially when you’ve got more than a couple of properties and if you’re unavailable or uninformed, you’re more likely to be making poor decisions or slow decisions which can cost you over time. Life’s busy but keep up-to-date with what’s happening in your portfolio.

 

John Paynter

Doing joint ventures (particularly with family) without having dispute resolution and termination clauses.

 

 


Ever reversed any detrimental bad investment habits? Share your experience below, tell us how you are investing better today!


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