Mr Buffett is known throughout the globe as one of the world’s most successful investors, both individually and through his investment company, Berkshire-Hathaway.
Due to his success, Buffett’s thoughts and approach to investing are widely studied and whenever he has something to say on the subject a lot of people tend to listen. One of his most closely followed communications is his annual letter to Berkshire-Hathaway shareholders, and this year he decided to give a fair bit of emphasis on property as an investment.
Included in this letter was a tip, which we felt was worth passing on for anyone who is considering purchasing an investment property in the near future. Buffett said:
“You don't need to be an expert in order to achieve satisfactory investment returns. But if you aren’t, you must recognize your limitations and follow a course certain to work reasonably well. Keep things simple and don’t swing for the fences. When promised quick profits, respond with a quick ‘no’.”
Wise words indeed.