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Podcast: My Worst Investment Ever Podcast
Episode: Mark Morris – Buying a Home as Investment Can Become a Heavy Burden
Description: BIO: Mark Morris is an expert at building developer relationships and helping housebuilders achieve discreet volume sales at speed.STORY: Mark bought an off-plan property for $200,000 with the hopes of selling it for a profit. Unfortunately, a project that was supposed to take 12 months took two years to complete. The US financial crisis hit just a few months after completion, and now Mark could not sell the property.LEARNING: Be careful when investing in an off-plan property because you are simply buying a dream. Most homes just take money away from the owner, making them...