My New House will be Built from American Tears

I’m all about REITs now

Jordan Fraser
Money Clip

--

Photo by Amanda Jones on Unsplash

After months of searching the market and crunching numbers I’ve decided against buying a new investment property and I couldn’t be happier.

Since the start of this year I’ve been searching fervently for a new investment property that ticks all my boxes and makes financial sense.

I’m old and lucky enough to have bought properties back in the golden years when buying a positively geared house wasn’t all that difficult, taking out a mortgage wasn’t a pain in the ass, and interest rates were described as “not as low as I’d like” rather than “dear god the entire system is evil.”

It feels unbelievable that this was only ten years ago.

Nope, crunching the numbers as they are today made me realise one thing, buying an investment property just isn’t for me anymore.

They’re too expensive, the interest rates are too high, rental payments can’t cover the costs, and I won’t make enough money to justify the effort. Why does anyone do it anymore? What am I missing?

Aside from boasting on social media about my new house and rubbing it in people’s faces, what do I have to gain?

Well, I’ve been ignoring them for years, but I can’t ignore them anymore. It’s time to…

--

--