Investors continue to focus attention on Gladstone, arguably the number-one boom town in the nation, as I wrote in my Property Observer column in October.
I get asked lots of questions about the wisdom of buying in Gladstone.
The problem? The optimum time to buy there was two years ago. If you buy now, you’re paying for someone else’s capital gains.
The question I get asked – about Gladstone and other growth centres – is this: why didn’t I know about this place in 2010?
The answer: because you didn’t know what to look for, nor where to find it.
Gladstone’s capital growth over the past two years was a no-brainer for anyone with the habit of acquiring pertinent information.
This is something all wannabe investors should do, but few know how to start and even fewer are willing to spend time and money.
Therein lies the answer to another question: why do so few attain their goals as investors?
Many want a shortcut to the next growth area. They want the inside information but aren’t willing to get any dirt under their fingernails.
People with that mentality are in the wrong business. They have a bleak future as property investors.
The alternative to paying for good information is hard work. If you don’t want to pay for market intelligence, you have to acquire it at the expense of your own time.
The good news is that all the information you could ever need is out there. Anyone with internet access can find it.
The bad news is you have know where to look and you have to be willing to spend time.
For Terry's updated outlook sign up for the free webinar on Thursday, December 6 at 12.30pm on Regions versus capital cities - where to invest in 2013?