I want a golden goose (property) — where do I get one?
Friday, July 13, 2018/
You’ve heard the story about the goose that laid the golden eggs, haven’t you?
I believe it was an Aesop fable.
Well, imagine that you can go to a store and say: “I’d like to buy a goose that lays an egg, please. One that will pay me a 10% return on its purchase price.”
Wouldn’t that be nice?
It all sounds a bit too good to be true, what’s the catch?
Maybe you’re wondering,
- Who is going to feed the goose twice a day?
- Who is going to clean up after the goose?
- Who is going to watch over it and make sure it keeps producing eggs.
The answer is …
If you allow me to continue with the analogy: the farmer will.
You own the goose; the farmer takes care of the goose for you.
And the second best part is the farmer doesn’t get paid if the goose is not doing what it’s supposed to do — giving you a great return on your money.
Now, how would other “money managers” (all of the financial planners and advisors) feel about that arrangement — not getting paid if there is no income coming in?
How likely is it that they will tell you where the store where you can buy the goose is located?
Here’s the secret …
If you buy a residential investment property and get a professional property manager to look after it for you, they will only get a commission when the rent comes in.
And your property manager won’t get a commission for, or share in, the capital growth you’ll achieve.
By the way, your 10% return on your investment will come in the form of around 6% capital growth (over the long term) and 4% rental return.
And you get peace of mind plus, income generation and an appreciating asset.
You own the golden goose.