“I just bought another investment property ”
“You what? How many do you have now? ”
“Yep, another one. So far we have eight properties in total”
This sort of conversation happens over and over again. It’s fun to look at people’s reaction. However I don’t buy investment properties just to see their reactions. I buy for making money, either immidiate income stream or long term capital gain. Or both if lucky.
I love real estate. Reason number one- it’s real. I can see it. I can touch it. I can walk onto it, and I can put tenants in it and they pay me. Reason number two- I am Taiwanese. It’s in our gene. My mother is very good at investing in real estate. I remember we spent quite a few weekends either attending open houses or playing at vacant houses/units while my mother was discussing with trademen on how to renovate the place to attract good tenants. So, I guess it’s also a family tradition.
“How did you buy investment properties in Australia when you actually live in Taipei?” one of my friends asked me shortly after the settlement of our eighth property in Canberra.
I did a lot of research before making any offer, and I’d like to keep my wife happy by letting her know the numbers/due diligence (my friend once told me, “happy wife, happy life” ) .
Well, I used the property we bought recently as an example to tell her how we did it. Details will be in the next post.