Seems like the have the perfect recipe and might look like God sent a sign from heaven to show them exactly what to buy or not.
Billionaire Warren Buffett has been doing it for years, making smart investments, sharing with us his knowledge for a better understanding.
“Fear in others is an opportunity for you. It’s been an ideal period for investors: A climate of fear is their best friend. Those who invest only when commentators are upbeat end up paying a heavy price for meaningless reassurance.
Keep your head about you when others decide with fear and you’ll find value at every turn. From the common market thrashing over quarterly earnings to the small business owner who just wants to get out, learn to smell fear and welcome it as an opportunity.
The irrational fear of the herd is a dear friend to the value-minded investor. When everybody else stampedes, quickly work through your own fear and get back to business.” Is the first thing Warren mentions.
“Invest in what you understand. It doesn’t matter how good a deal you’ve found or how cool an investment opportunity seems. If you don’t understand how it works, steer clear. You probably have at least one friend who is always rushing from one “perfect investment opportunity” to the next.”
“Concentrate on long term results
In the end, what counts in investing is what you pay for a business – through the purchase of a small piece of it in the stock market – and what that business earns in the succeeding decade or two.
Once you’ve put the first 3 tips into practice it’s important to remember that tremendous value is most often gained over the long term. Look at what might happen over the next 15-20 years and invest accordingly.”
“Take full responsibility for your investment decisions. Make the success or failure of your investments personal and take responsibility for all your decisions. You might have the smartest consultant of all time but that’s no excuse to shirk your responsibilities. “
Recipe for success: Steve Bolton's model, like Jim Haliburton's, is to buy underpriced property and convert it to accommodate more tenants. "You've got to get the balance right between the price you pay, the cost of conversion and the income you will ultimately earn," he said. Not every region offers the same opportunities.
Recipe for success: When the market is weak, as has been the case recently, the brothers (pictured, top) tend to buy, do up, and sell, rather than hang onto their properties. But when prices are recovering and going up, they accumulate. Which is where they are at now. "If the market is still getting cheaper then there is no point in holding," Philip Stewardson said. "You are losing money.
Recipe for success: Jim Haliburton buys unloved two- and three-bed terraces typically costing $60,000 to $80,000 each, for cash. He spends $20,000-$40,000 converting them into five- or six-bedroom units, with each room typically letting for $280 per month. For a six-bed house, that works out as an annual income of $20,000. With that sort of revenue, the property is worth $200,000 to another investor-buyer.
Now you have a clear vision of how these millionaires and billionaires are working and flipping money. Do your research and see what suits you best! Blissful Properties are well experienced in the investment property market, and we are available and more than happy to reply all your questions. It’s never too late to start on your own.