Thinking of getting in to property investment? While there’s plenty of tips and advice out there, there’s one golden rule to stick with.
According to property investment expert Michael Matusik, you have to be in it for the long-term. This is his golden rule and knowing that property is a long-term investment is the first step to building wealth.
While it is possible to make a profit from property investment in the short-term, such cases are rare. Recent analysis has shown that 54% of people who sold after 5 years or less made no real profit from the investment. 22% of these made a loss and 32% made profits so small that the buying and selling fees absorbed them.
For those who held their property for longer than 5 years the figures are much more promising. 43% actually managed to double their investment. Only 6% of these properties made less than a 10% gain.
Long-term investment is key to getting the desired results from property investment.