Are you a waiter? Not one that works in a restaurant but someone who waits. Waiting for the exact right moment when to pounce and make loads of money.
But are you finding that you are doing more of the waiting and less of the making loads of money?
When is the right time to pounce. Well you know my thoughts on this matter:
Now I do not mean buy everything. This is what a lot of the novice investors did and look what happened to them. You always have to be on the look out. When a deal comes in jusr right you need to pounce.
There are deals all the time. If you were to look at the ratio of investors compared to to home owners you will see that:
Pre 2007 the ratio was 1 in 10. That is to say 1 in every 10 purchases was going to investors.
Post 2007 the ratio is 1 in 4. That is to say 1 in every 4 purchases was and is going to investors.
If you were to examine this statistic even further you will find that probably 80% of the investors that were buying were professional landlords and investors. I mean who was really buying during the credit crunch. It could have only been investors in my opinion!
So do you wait for the owner occupier to come back to the market to then decide to buy. Well you could but expect to pay more. This will raise the risk of the investment if the yield is inferior.
Yield is everything. If the yield is good then everything else gets taken care of. So if you see a deal which you can acquire which meets your yield threshold then BUY. You never know when you will see these yields again. IF you do not have a yield threshold then GET ONE! 10% is a good one!
I remember novice investors slating me in the open forums. They would say I was mad to think you should only buy 10% yields as they thought they did not exist. The problem was they were not looking hard enough or not willing to invest out of their home town. These novice investors are still in their day job and still posting on forums!
So if you really want to hit your goals waiting is not really an option. It is all about setting your yield criteria and simply hunting high and low for it. My message to you is GET HUNTING. The yields and deals are out there. I know that because we find around 120 deals a month.