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Property investors are reminded of the importance of setting goals throughout their property journey, with a 30-year-old setting and achieving the goal of 20 properties.
In a conversation with Phil Tarrant, property guru Sam explained why he set the goal of 20 properties by his 30th birthday and why it’s important to buy quality over quantity despite the lofty target.
“I started with 10, but when I hit, it I thought I might as well double the number,” Mr Gordon said.
The property investor explained that he did not just buy property for the sake of buying property, but instead the importance of quality.
“To be honest, they have all served a purpose within the portfolio and essentially that is what got me there,” Mr Gordon said.
According to Mr Gordon, investors need to have a strategy in mind to help them build their portfolio and achieve their portfolio goals.
Explaining the strategy he personally uses, Mr Gordon said: “The way I build my portfolio is a dual portfolio. Essentially what I do is half the portfolio is built towards growth, the other half is built towards cash flow.”
Finally, the investor advised others to be aware that the next couple of months could provide opportunities for buyers.
“I think I am a little different with my perception of the market. The next month or two is going to be the most opportune time in the market.”
“The people that need to sell are probably going to sell and take a cut in the next one or two months. But I think the people that don’t need to sell and are stable enough aren’t going to take a cut because interest rates are low.”
“So, I think there’s going to be a lot there at the moment that people can have a really good crack at, and then once that stock gets shifted and the people that wanted to sell but can’t get the money will withdraw their property, there’s going to be a shortage on the market.
“The people that are gutsy and want to have a crack might’ve missed it in the next few months,” Mr Gordon concluded.