Merry Xmas - Why the holiday season can lead to investment nightmares!

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Merry Xmas everyone. Its a great time of year for holidays. Unfortunately, it can also be a time of year for really bad investment decisions driven by emotion and a lack of research. In this video I explain why.



Hi, I'm Phil Anderson from LifeCorp, the home of street smart property investors. Well, it is the Christmas season, and merry Christmas to you. The reality, though, is, I don't want you to relax too much. Let me explain why.

You see, whilst this is a great season to relax with family and friends and, you know, unwind from a heavy and stressful year that's just taken place, the reality is, way too many people relax too much and actually put themselves in a situation where they become emotionally connected to properties whilst they're on holidays. Many people venture off to beautiful locations- you know, dip in the water, walk through the sand- and fall in love with that location to a point where, through just being relaxed and having time on their hands, they visit sales areas, and maybe display housing or display units, and become emotionally connected to that stock.

Now, I need you to be very careful of this. Putting your hands on the cold stone bench-top and smelling the carpet and walking through well-staged properties can evoke such emotion in many novice investors, particularly, that don't do the numbers. I want you to be very careful. When it comes to buying those investment properties, many people are very surprised once they do the numbers that they eat in way too much into their take-home income, not effectively tapping into their tax component. Body corporate fees, escalated costs when it comes to all of the outgoings, and the poor numbers that are quite often, unfortunately, not realized until way too late, can create an experience that's very heavy on your pocket. Hundreds and hundreds of dollars a week to service that negative cashflow, that terrible cashflow when it comes to many of those properties that we emotionally connect with.

Please, before you do anything, stop and do the numbers. And be very, very careful that you're not also getting into a particular property type that may be very over-supplied in the next year or two. I've got a real big concern about the unit market around Australia. I'm gonna bring you some evidence on that through 2015. Some of my research is quite alarming, particularly in some of the cities.

So, please- whilst you're on holidays, relax, but remember, if you become emotionally connected to a property, stop. Put a hold on things. Come back and do the numbers first. You really need to buy investment properties based on what you believe is gonna be an outcome- over a period of 5, 10, 15 year period, whatever that may be for you, whatever that outcome is- do it based on numbers. Not just for the longer term, but what are the holding costs today? Remember, for me, this is not acceptable. I wanna see you tapping into the tax money. I wanna see you utilizing these components of your potential way to invest in property, not using that net wage. I'm about using a lunch money-only model, a maximum of $20 a week. So, remember, if you can't buy a property with your lunch money, don't buy it. But do have a merry Christmas.

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