FOMO is not an investment strategy

FOMO is not an investment strategy

Author: Ben Reid - Manager VAA

Here at Ian Reid Buyer and Vendor Advocates, we have built a strong track record of assisting countless Victorians to take positive steps towards achieving financial independence through carefully planned and targeted property investment.
So, while we don’t claim to have all the answers, we have certainly gained some valuable insights through many years first-hand experience with successful property investment strategies. We’ve also seen the results of what happens when some Victorians try to ‘wing it’ without professional assistance.
It is clear to us that anyone planning on investing in property needs to have a clear strategy that is based on their specific goals and situation. Unfortunately, some people tend to approach the property market without this preparation, and simply follow other investors down a path that tends to be driven by whatever is ‘in fashion’ at the time. It’s a classic case of ‘FOMO’, or Fear Of Missing Out.
Just because a number of investors decide to focus on a particular area or property type is no guarantee that this preference is well informed or even well researched. It is never wise to assume that other people know more than you do. Indeed, the fact that others are chasing a particular asset class is often a good reason NOT to follow in their footsteps, given that the laws of supply and demand show that your acquisition costs are almost guaranteed to increase.
Of course, our team at Ian Reid Buyer and Vendor Advocates take great pride in having assisted countless investors to achieve their property-based goals over the years, as well as assisting numerous investors to capitalise on their financial goals when selling properties at the appropriate time.
So if you would like some experienced and objective advice and assistance in this area, don’t hesitate to give us a call on 9430 0000.
You’ll also find lots of helpful tips for homebuyers, including aspiring investors, in our free booklet, “WINNING BUYER STRATEGIES” so be sure to download a copy while you’re here.

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