At the start of a new year its only natural that as property investor-landlords we should look back and reflect on the previous year to contrast our experiences with what we had expected to achieve, and of course to take on board the lessons learnt from our failures and successes. I would certainly hope that many of you reading this January edition will have moved further towards rather than backwards in respect of your own long term goals from investing in property.
In previous years this January edition has quite often contained a more theory based article on goal setting and motivation to help sharpen minds and to help readers to be able to see the woods from the trees with the aim of de-cluttering minds and clarifying just what we want to individually achieve from our property investment activities in the year ahead.
This year however, while reminding you of the logic in regularly setting goals for ourselves, we have inside this edition on page 20 a real world example from Angela Bryant, one of our long term magazine subscribers, who with her husband has successfully built up quite a large residential portfolio. Her personal experiences since re-setting her own property investment goals back in early 2010 are quite enlightening and some of the lessons she has learnt over the last two years are worth reflecting on.
In sharp contrast, the recent tale of woe recounted in the national press of a Devon based property investor now facing bankruptcy following a calamitous investment into a highly speculative property development in Bucharest, Romania is a classic example of a get rich quick scheme which has gone very badly wrong. Having successfully created a large portfolio since the 1990s of 84 rental properties, and with an apparently solid income from rents of £250,000 a year, the investor then chose to fly far and high by borrowing extensively against his UK assets and unfortunately his high flying days have now ended with a severe crash landing!