The Big Fat Property Lie

I watched a programme on TV last night called "My Big Fat Property Fortune". I don't watch a lot of TV but this programme caught my eye, it was supposed to be how these incredible people had made their fortune from property. WHAT A DISAPPOINTMENT.

What the show consisted of was a bunch of people that had made their money from property mainly through luck and good fortune rather than their business acumen. There were a few exceptions to this, must notably, a husband and wife team whom I have seen a couple of times before, they own over 700 properties that are worth in excess of 170 million. There is no disputing that this couple are worth a fortune and that they continue to rake in a fortune from property.

The problem I have with this show and others like it is that it is not realistic and truthful. Let me explain myself. Yes, there is no doubt that this couple have made an absolute fortune years ago, mainly by the sound of it by buying new and off plan properties. However what is not taken into consideration is the changing housing market.If this couple started today and did exactly the same thing all over again, the results would not be the same, in fact they would probably end of being bankrupt quicker than you can say "Jack Rabbit." It was a different market when they started investing and so many novice investors (or hopefuls) will have watched that programme and thought yes that is how I am going to do it.

The key with making money from property is knowing your market. Knowing whether it is the right time to buy off plans or to buy old houses etc. You have to give the property market and it's current condition due consideration and respect, many would be investors and developers get into financial difficulty because they haven't taken this into consideration. Exactly the same money is still out there to be made, you just have to adjust your strategy to make sure you are making it in the safest and most profitable way possible.

Carlton Johnson

http://www.UKPropertysuccess.com