Some people love the buy and hold property investing strategy. However I always say don't discount selling your property investments. I recently sold a property in Melbourne which made $110K profit in 4 years. When property is at the peak of the market and there could be a possible decline or plateau this is a good time to sell. Take the profits and reinvest into another invest that will deliver a better return going forward.
Luke is in LA talking with property flipper Adam. Luke takes this opportunity to discuss market influences to consider when buying property investment. You will also hear about Adam's approach - going direct to the seller, his 'problem solving' approach, working with a team and making profits.
Are you doing your Passion?
My Uber Drive is doing his passion. He deals in Cars. He buys them and sells them overseas. There is a big market in Scandinavia. His key to success is buy wholesale, stick with one strategy, understand your product, Set up a team that is equally passionate. We end with a discussion around retirement and whether retirement comes into consideration if you are doing your passion?