We have often explained
that building a property portfolio is a slow and steady process. It is not a
get rich quick scheme. To make this type of investment effective you must develop
and/or follow a system.
Let’s be honest, almost anyone can make money during a property boom because the market covers up most mistakes. But when the market turns the other way many investors without a system found themselves in trouble.
Warren Buffet explains it simply
“You only find out who is swimming naked when the tide goes out.”
In other words, if you aren’t following a system that works in all market conditions you will be caught naked when the market changes.
Strategic investors follow a system to take the emotion out of their decisions and ensure they don’t speculate.
Now, you might be thinking `How do I develop a system?’ Generally if you are asking this then you need to either educate yourself or hire a professional to guide you.