I love reading a good quote from a successful investor.
It’s like a gold a nugget – a lot of wealth packed into a bite size chunk.
So, here’s 10 investing quotes from ‘young gun’ property investing superstar Todd Polke, for you to put in your vault.
1. On diversification
Buy in multiple cities, in multiple markets at different times of the cycle. This diversification minimises risk.
2. On what drives price growth:
Infrastructure is king. But transport infrastructure is the most important to property price growth.
3. Who is the best ‘end buyer’ of your investment property?
Always buy a property with the ‘end buyer’ in mind. Owner occupiers are best because they get tend to get emotional about the property.
4. 3 Keys to successful property investing:
You need the right strategy, right market, and right time of market.
5. 3 Types of properties every portfolio needs:
“Buy and Gold” Properties. Paycheck properties & Momentum properties. This will ensure a portfolio with solid equity growth and cashflow.
6. A question to ask when buying a property
‘How can I make money when I buy as well as when I sell?
7. Preparation is the mother of success
If you are not prepared to act (with your finance ready etc.) golden property opportunities will simply float past you.
8. On wealth and success:
Wealth is a result of your daily habits. Success is a system.
9. On buying off the plan:
When buying off the plan. Make sure the developer has an interest in the long-term prospects of the project. This will impact your return more than anything else.
10. Here’ a quote from a famous sports player that Todd lives by:
‘Success is not earned it’s leased. And the rent is due everyday’.