Negotiation, Negotiation, Negotiation

UK Property Investment news and comments from Mark Harrison of YourPropertyExpert.com

A key attribute of a successful trader is patience

Posted by markharrison on August 29, 2008

A key attribute of a successful trader is patience

– Hedge Fund manager

I think it’s worrying how little those of us in property investment seem to learn from other types of investors. The line above is one key thing I picked up from a Hedge Fund meeting, and something that I can’t help feel that we lose sight of sometimes.

For some people “deal flow” is the only source of income – obvious examples are estate agents – they only get paid when transactions happen.

For us investors, though, in many cases it’s more about buying the great deal once in a while, and letting it churn out positive cashflow every month for decades.

There’s also this myth that “no money down” and “passive income” go hand in hand. I’m not denying that No Money Down is (once in a while) possible, but doing it seems to involve a full time job walking up close to the edge of the law…

Alternatively, you can have plenty of passive income if you’re prepared to tie up a few tens of thousands of capital in each investment.

So, in today’s market (late August 2008), I’m perfectly happy to sit here, in the belief that whatever deals there are now… there will be many more in another six months.

One Response to “A key attribute of a successful trader is patience”

  1. […] public links >> patience A key attribute of a successful trader is patience Saved by senacesweb on Mon 13-10-2008 Tempered Patience Saved by derHobbit on Mon 06-10-2008 […]

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