No one can get it right all the time. Even the experts get things wrong. And so it is with property investing.
The great investor Warren Buffett once said that four out of 10 of his investments were mistakes. Even the best investors are fallible.
“We all learn a great deal more from our failures than our successes. If every shot was a hole in one, you’d lose interest in the game.”
In the current market, many investors are realising they have made mistakes. Some will survive, others will not. The smart ones will pick themselves up, learn from their mistakes and do it all much better next time.
But how great is it to have the opportunity to learn from other peoples’ mistakes, rather than experience them all yourself?
We interviewed some investors willing to admit they’ve made mistakes. These investors have survived complete rotations of the property cycle and share their journey, and offer advice and guidance to propel your investing down the right track.
We profile the Landlord of the Year winners, announced recently at the New Zealand Property Investors’ Federation (NZPIF) Conference in Rotorua (which is also the home of the NZ Property Investor, FYI).
Our congratulations go to Andrea and Andrew Elliot of Dunedin, and runners-up Kevin and Megan McCarthy, and Lorna and Jeff Goodin.
Our beginners’ series this month looks at the best structures for protecting your assets. What’s best – a trust or an LAQC?
A picture paints a thousand words. So does a garden. We have 10 hot tips on how simple changes to the garden can instantly transform the look and feel of your investment property.
We also spend a day in the life of a property finder to see how valuable they are to an investor’s team.
Also in the November 2008 issue: