5 Star Wars Wisdom to property investment
By Lin Zhiqin
/ The Edge Property |
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Star Wars takes place a long time ago in a galaxy far, far away. Yet it can offer wisdom pertinent to property investors in our world. In anticipation of the upcoming movie premier of ‘Star Wars VII: The Force Awakens’, we combed through our favourite Star Wars moments which can teach us a thing or two about investment. We will kick-off the series with the very first wisdom today and will be rolling out the rest in the days leading up to the premier. Please stay tune for more property wisdoms!
Star Wars Wisdom # 1 - “Avoid acting on dark side emotions.” In the current market, with sliding prices and rents, coupled with the anticipated interest rate hike, some investors might feel pressured to cut their losses and sell sooner than later. Like the Jedi, who believe there is a dark side but refuse to dwell on it or follow it, property investors should avoid acting on emotions, such as panic and fear. Instead, they should calmly take stock of their circumstances and consider options such as mortgage refinancing or rejigging their spending to support the investment mortgage. A temporary reduction in discretionary spending could help provide sufficient cashflow to tide over the period taken to secure a tenant.
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