Olly’s controversial October column is available now.
I say ‘controversial’ because by golly, Olly has come under fire from some of the anti-property, alarmist ‘Oh-My-God-the-world-will-never-be-the-same’ brigade.
As you’ll see from the title of the column While Mortgage Rates Are Low – Borrow More!, Olly is offering an alternative view to the current ‘crowd wisdom’ of reduce debt reduce debt reduce debt. If you read the column (link below) you’ll see that he’s NOT saying gear up for consumption or to buy flash new toys. Nor is he suggesting anything radical or revolutionary. As an Authorised Financial Advisor, property mentor and consultant he’s offering strategies and tactics for today’s investment conditions.
If there’s one thing Olly has proven, it’s that he’s willing to be a counter cyclical investor. That way lies success.
It hasn’t always been a bed of roses for Olly (Read Lost Property), but Olly is an investor who typifies what Warren Buffett refers to when he talked about ‘being fearful when others are greedy and greedy when others are fearful’.
He’s also demonstrated by his own example the value of leaving the party before the clock strikes midnight. His book ‘The Day the Bubble Bursts’ which warned of the (then) impending property slump, was greeted with similar howls of protest. Until later, when several of his most vocal critics quietly admitted they wished they’d followed his advice … to shed lower quality properties in below average areas, do your best to lock in tenants and, paradoxically, to reduce debt … when many ‘gurus’ were saying the opposite.
But that was then and this is NOW. The market has changed and the strategies to succeed in it at this point are different — the strategies, but not the principles.
Read Olly’s October column with his calls to invest (carefully, prudently) NOW … then, if you’re interested, here’s a follow up five minute audio interview recorded with Olly about some of the points he raised, and (briefly) responding to people he says are ‘hyping up’ fears.
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or download an MP3 file here (5 minutes 2.5MB):
Olly Newland – Why borrowing sensibly for improvements is better than paying off your mortgage
