A few years ago a lady that worked with me at a property investment company was handed this poem below by a wise old Indian man who had invested in real estate for years and years. I really liked it, so typed it out and saved it to my computer, I have just found it again so thought you all might like it aswell.
“Who Am I?
I am the basis of all wealth, the heritage of the wise, the thrifty and the prudent.
I am the poor person’s joy and comfort, the rich person’s prize, the right hand of capital, the silent partner of thousands of successful people.
I am the solace of the widow, the comfort of old age, the cornerstone of security against misfortune and want. I am handed down through generations as a possession of great value.
I am the choicest fruit of labour, the safest collateral and yet I am humble. I stand before every person bidding them to know me for what I am and asking them to possess me.
I am quietly growing in value through countless days. Though I might seem dormant, my worth increases, never failing, never ceasing. Time is my aid and the ever increasing population adds to my gain. I defy fire and the elements, for they cannot destroy me.
My possessors learn to believe in me and invariably they become envied by those who have passed me by. While all other things wither and decay, I alone survive. The centuries find me younger, always increasing in strength.
All oil and minerals come from me. I am the producer of food, building materials and the home to every living thing. I serve as the foundation for homes, factories, banks and stores.
I have not been produced for millions of years, yet I am so common that thousands, unthinking and unknowingly, pass me by.
Who am I?
I am land.”
You are probably already aware that it is the ‘land’ portion of property that is the bit that really goes up in value. After all they’re not making any more of it!
So why would you buy property where you dont own the land! or very little of it. Ie. where the land is leasehold, not freehold, or a highrise apartment, where you may only ‘own’ 100th of the land area the apartment building is built on.
Food for thought…. stick to properties where you own the chuck of land.