We're almost halfway through 2024, and the property markets are exceeding expectations. Here are some important lessons from 2023, as highlighted by Michael Yardney, to guide your investments for the rest of the year:
Long-Term Focus: Strategic investors plan for the long term, expecting unexpected factors but protecting themselves with quality assets, financial buffers, proper ownership structures, insurance, and holistic advice.
Ignore Media Hype: The media aims to entertain, not educate. The strong property market performance in 2023 showed the importance of ignoring pessimistic predictions from so-called "experts."
Avoid Short-Term Reactions: Don't make long-term investment decisions based on short-term news. Stability and foresight are key.
Choose Reliable Mentors: Be cautious of who you listen to. Seek mentors with substantial property portfolios who have maintained their wealth through various market cycles.
Be Different from the Crowd: Successful property investors often do things differently from the majority. Property investment is primarily a financial game with houses in the mix.
