CHAPTER 13 A Foolproof Guide to Property Investing?
A little knowledge that acts is worth infinitely more than much knowledge that is idle.
—Khalil Gibran
Listen up, everyone…we are very excited to announce that we have a foolproof guide to property investing! Are you ready? Here it is:
Make money when you buy (i.e., buy properties below their market value so you're in profit from day one).
And as a special limited offer, while we have your attention, we are also giving away, absolutely free, the foolproof guide to losing weight! Ready? Here you go.…
Eat less and exercise more.
The point we're trying to make here is that what sounds simple in theory is never easy in practice. If in one year you buy 10 properties that are valued at £100,000 each, and you buy each of them for £90,000, you automatically have a paper profit of £100,000. Voilà! A foolproof guide to property investing.
If you reduce your calorie intake by 10 percent and you increase your exercise by 10 percent, you will lose weight, as long as you do not have something medically wrong with you. Voilà encore! A foolproof guide to losing weight.
Okay, we didn't invent either formula; they've been around forever, but the fact is they are foolproof insofar as they definitely work.
What's the catch? Human intervention!
Value investing (and all we are doing here is applying value investing to property) is simple: Buy low, sell high. But people fail because they let their emotions get in the way: for example, they'll get ...
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