{"id":3418,"date":"2015-02-16T01:00:24","date_gmt":"2015-02-15T14:00:24","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=3418"},"modified":"2015-02-16T01:00:24","modified_gmt":"2015-02-15T14:00:24","slug":"golden-rules-of-property-investment","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/golden-rules-of-property-investment\/","title":{"rendered":"Golden Rules of Property Investment"},"content":{"rendered":"<p>&nbsp;<br \/>\nIn today&#8217;s show we hear about the good property investment principals \u2013 some golden rules &#8211; from Sky TV\u2019s\u00a0<strong>Chris Gray<\/strong>\u00a0\u2013 star of &#8216;Your Property Empire&#8217;.<\/p>\n<h4><strong>Transcript<\/strong><\/h4>\n<p><b>Kevin<\/b>:\u00a0 I\u2019m just catching up now with Chris Gray from Empire, YourEmpire.com.au.<br \/>\nGood day, Chris.<br \/>\n<b>Chris<\/b>:\u00a0 Hi there. How are you doing?<br \/>\n<b>Kevin<\/b>:\u00a0 Good, mate. Good to be talking to you again. I wanted to talk to you, Chris. I\u2019ve noticed a lot of your blogs, and I\u2019ve been watching you on Sky TV too. I thought it might be good to pick up on some of the good property investment principals that I know you follow.<br \/>\nOne that\u2019s near and dear to my heart is \u201cdon\u2019t buy from your heart.\u201d<br \/>\n<b>Chris<\/b>:\u00a0 Exactly. I used to be an accountant. Technically, I still am. There are not many great advantages to being an accountant, but one of the best ones I say is the easy way for a lot of property investors who are accountants to invest is we have no emotion so it\u2019s very easy to make decisions based on the facts rather than the emotions.<br \/>\n<b>Kevin<\/b>:\u00a0 Yes. Use your head rather than your heart.<br \/>\n<b>Chris<\/b>:\u00a0 Exactly. It\u2019s hard because properties look beautiful. We look down the street, and a lot of the time, we want to be able to live in them ourselves. But that doesn\u2019t necessarily make financial sense.<br \/>\n<b>Kevin<\/b>:\u00a0 How important is it for someone to develop or understand their own risk profile when they\u2019re developing a plan, Chris?<br \/>\n<b>Chris<\/b>:\u00a0 It\u2019s really important, because there are a lot of companies out there and a lot of people that say, \u201cYou have to do this strategy; this is the only way.\u201d There\u2019s no way it can be right, because some people earn $50,000, some people earn $500; some people are 18, some people are 85. There is no way that there can be one strategy that suits everyone based on their income, their risk profiles, their family situations, and what they\u2019re going through emotionally or work-wise.<br \/>\nYour strategy may well change over the decades, as well, so you really have to look at the pros and cons of every strategy. There are financial pros and cons, and there are emotional ones, as well. Then you have got to develop what\u2019s right for you at that point in time.<br \/>\n<b>Kevin<\/b>:\u00a0 Yes. Timing the market: I know quite a few people talk about this but I\u2019ve heard you say, too, that\u2019s nowhere near as important as time\u00a0<i>in<\/i>\u00a0the market.<br \/>\n<b>Chris<\/b>:\u00a0 Exactly. We just look at the stock exchange, and if you try and pick the peaks and the troughs, you have absolutely no hope. I speak to the great guys at places like Reserve X, SQM Research, or AccuData, and those guys spend their whole lives studying the market and even they don\u2019t profess to be able to do it inside-out and with any kind of guarantee.<br \/>\nThe best thing I did is started investing at 22, and no matter what price I would have paid, almost no matter what property I would have bought \u2013 within reason \u2013 I would have made money on 20 years later.<br \/>\nSure, it is important to get the right property. Sure, it\u2019s important to get it at the right price, and a lot of people say you make your money when you buy. Sure, that is true, but the bottom line is if you\u2019ve held something for 20 years rather than 10 years, chances are you\u2019re going to make a lot more money.<br \/>\n<b>Kevin<\/b>:\u00a0 Have you ever been guilty of chasing hot spots at all, Chris?<br \/>\n<b>Chris<\/b>:\u00a0 No, generally I haven\u2019t. I\u2019m the kind of boring strategy, in a way. When the magazines say, \u201cWhat are your tips for next year?\u201d I\u2019ll say, \u201cIt\u2019s the same as last year. It\u2019s the same as 10 years ago. It\u2019s the same as 10 years\u2019 time.\u201d<br \/>\nMy kind of investing strategy is go for a guarantee. I typically go for the blue chip inner city suburbs, without going for the CBD, because generally they\u2019ve always been good, and I believe they\u2019ll always be good in the future. The down side is it costs more money to get into them, the negative gearing is a bit more because the rent is less.<br \/>\nIf you reckon you can take the next suburb that doubles from $200 to $400, good on you, but it\u2019s unlikely to be the best suburb for the next 30 years. My strategy is to buy the property, always buy a good one, then sit on the beach, and I\u2019m happy until next year comes around or even the year after until it\u2019s grown, and then I just keep repeating.<br \/>\n<b>Kevin<\/b>:\u00a0 Always makes sense. Chris Gray, thank you so much for your time. Chris, of course, is a regular on Sky TV, and you can contact him through the website, YourEmpire.com.au.<br \/>\nChris, thanks for your time, mate.<br \/>\n<b>Chris<\/b>:\u00a0 Thanks a lot. Cheers.<\/p>\n<h4><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; In today&#8217;s show we hear about the good property investment principals \u2013 some golden rules &#8211; from Sky TV\u2019s\u00a0Chris Gray\u00a0\u2013 star of &#8216;Your Property Empire&#8217;. Transcript Kevin:\u00a0 I\u2019m just catching up now with Chris Gray from Empire, YourEmpire.com.au. Good day, Chris. Chris:\u00a0 Hi there&#8230;.<\/p>\n","protected":false},"author":176692471,"featured_media":739,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,25],"tags":[101],"class_list":["post-3418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-sponsored-channels","tag-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Golden Rules of Property Investment - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/golden-rules-of-property-investment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Golden Rules of Property Investment - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"&nbsp; In today&#8217;s show we hear about the good property investment principals \u2013 some golden rules &#8211; from Sky TV\u2019s\u00a0Chris Gray\u00a0\u2013 star of &#8216;Your Property Empire&#8217;. 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