The time-poor professionals guide to building wealth from property – 2015 edition
In 2008 I released the first edition of this book and each year we have produced 5,000 – 10,000 copies plus an unknown number of copies have been downloaded in PDF or audio version from our website and distributed via other people’s newsletters.
Every year I get asked about what has changed in the property market and how I see the future. Each year I reply that nothing has changed. I’m looking long term and I don’t want my strategy to change just because interest rates have moved or the economy has altered.
This year I have re-published my book and I have not changed a single word. It’s exactly the same.
The only thing I have changed is the average property price. Back in 2008 we were buying properties at $500k and now we’re buying those same properties for $1m. In my book I noted that often people talk about properties doubling every 7-10 years and the skeptics always argue that it doesn’t. It’s 7 years since I wrote the book and it seems to be exactly on target.
Whilst all the $500k numbers have doubled to $1m in the examples, the percentages are still the same when it comes to break even points and expenses. Even though mortgage rates are around 4-5%, I still use 7%, 8% and 9% in my examples to ensure that when interest rates rise, people don’t suddenly panic and think they can’t afford to hold on.
If you would like a more up to date copy of the book you can download it for free in pdf or audio here http://www.yourempire.com.au/book/ and for the price of a stamp ($4.95) we can mail you a hard copy.
If you have friends, family or colleagues that are interested in property you could get them a high value (but very cheap) Christmas present for some great reading over the holidays