If you want to be an active participant in the Perth real estate market, it means that you need to take the time to honestly evaluate how you are currently interacting with the Perth Property Market versus how you ultimately want to become part of it. Let’s take a look at three different categories that people interested in property fall into, so you can figure out where you fit on the spectrum and decide what you could do differently to be more successful.
An Observer is someone characterised as having a deep and complete knowledge of what is happening on the market around them. However, the Observer’s biggest flaw comes from a lack of action. Unable to make the hard calls and actually dive into the market, an Observer fails to learn the real lessons that the stock market has to offer and ends up with a large amount of conceptual knowledge that he is unable to apply to the realities of the market.
A Speculator is an investor with the opposite problem of an observer. Speculators are often far too focused on instant gratification and a short term payoff. This can lead them to fail to take into account future risks and make investments that prove extremely costly in the long term. Even by learning the lessons the active real estate market can teach, a failure to learn observational skills will continue to hamper a Speculator throughout an investment career.
An Investor combines the best traits of an Observer and a Speculator to become a successful real estate investor. An Investor knows when to take action, but those decisions are based on long-term goals that have been well researched.
Which are you? If you want to make money in the Perth real estate market contact Investors Edge Real Estate – they will be able to assist you in becoming an Investor!