Everyone has an opinion on what's going to happen to the property market. To become a successful property investor it's vital that you are able to identify the difference between fact and opinion.

For example, newspapers are often full of comments such as "Property Bubble Set to Burst!"

Take a look at the following graph which shows the growth of property prices in Sydney from 1990 to 2006. Added to this are the dates of certain media articles published with comments from experts regarding the property market.

 
As you can see, the doom and gloom of the property bubble makes a good media story but deals little in fact.  

Separating Opinion from Fact
We are bombarded daily with information regarding investing, as a Player it's important to separate fact from opinion.

Fact = something that actually exists or has occurred.
Opinion = a conclusion or judgement.

The word "fact" originates from the Latin word facere which means "to do." The word "opinion" derives from the Latin word opinari meaning "to think."

As an investor, you first deal with facts and then make your own opinions. Don't make decisions on the opinions of others as you are using their judgements as a judgement for yourself.

Being passionate about helping others achieve their financial dreams, we see a lot of people stopped or slowed down because they listen to and believe in other people's opinions. Some believe that lack of time or money is the main reason an investor doesn't succeed. This is not true! The FACT is that most people don't succeed through lack of belief in themselves and what they're doing; their self-confidence is sucked out of them by others. That is what hinders most people, because if you believe in yourself 100% then nothing can stop you. Nothing!

To avoid falling into this all too common trap, it's vital that you are able to identify the difference between fact and opinion and where they come from. There are two types of people that offer opinion as facts. By clarifying these it will help you to identify them, so that you don't get swayed from your investing goals.

These two types of people are:

  1. Those with a vested interest.
  2. Know-It-Alls.

The Vested Interest Type
Those with a vested interest in passing on the information to you have something to gain. The advisor to whom you are speaking will advise you based on the training they have had or the amount of commission they will earn. This may sound a little cynical, but if someone makes their living from advice based on commission, that advice might be bias.

This doesn't mean that everyone who is trying to sell property, shares or managed funds is lying or not telling the truth or is twisting facts. What we want you to be able to do as an investor is to make an informed decision. You need facts to make a decision, not opinions.

What approach should the investor take? Only five simple steps are required:

  1. The first step is to recognize when advice (or opinion) is being given as "fact."
  2. If given by someone with a vested interest (e.g. they make a commission from "selling" you their product) then realize the advice is liable to be biased.
  3. Get actual statistics on the matter if possible.
  4. Always work out the numbers with the full, long term picture in mind.
  5. Remember to look at the opportunity from the standpoint of which game you are playing: Are you an investor or trader?

Once you've gathered all of your facts then you can form your own opinion on the matter.

Get this 3 DVD set and watch as Michael Yardney, Australia's leading expert in wealth creation through property and Tony Melvin, best selling author and property tax specialist, teach you how and where to invest to take advantage of the great property boom ahead.
This 3 DVD set includes transcripts and a special dual screen display to ensure you don't miss a thing.

Click here for more details or to order your DVD set today.








With their usual simple style, Tony and Ed show you a self-sustaining wealth creation strategy for life and it will change the way you look at property and finance forever.
If you want to retire early or you're trying to accumulate as much wealth as possible, then get ready for a rocket ride because this book explains how to do it using little or none of your own money.
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The rules are different now. As a property investor you need to ask yourself 3 questions:

1.      Which way are the property markets heading?

2.      Which way are you heading?

3.      Are they both in the same direction?

In their only round of national public seminars until 2009, property expert Michael Yardney and tax expert Ed Chan will help you understand what is really happening in our property markets.

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Come along to this series of seminars in August and September in Melbourne, Sydney, Brisbane, Perth, Adelaide and Canberra and hear Michael and Ed give you straight forward, no nonsense, practical steps and honest answers to improve your property performance this year and into the future. 

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