{"id":15138,"date":"2020-06-30T14:08:33","date_gmt":"2020-06-30T04:08:33","guid":{"rendered":"https:\/\/www.prosolution.com.au\/?p=15138"},"modified":"2020-06-30T15:05:08","modified_gmt":"2020-06-30T05:05:08","slug":"intrinsic-value","status":"publish","type":"post","link":"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/","title":{"rendered":"It is &#8216;what&#8217; you buy, not &#8216;when&#8217;, that matters the most"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"250\" data-attachment-id=\"15145\" data-permalink=\"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/intrinsic-value-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Intrinsic-value.png?fit=1000%2C250&amp;ssl=1\" data-orig-size=\"1000,250\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Intrinsic-value\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Intrinsic-value.png?fit=300%2C75&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Intrinsic-value.png?fit=1000%2C250&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Intrinsic-value.png?resize=1000%2C250&#038;ssl=1\" alt=\"intrinsic value\" class=\"wp-image-15145\" srcset=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Intrinsic-value.png?w=1000&amp;ssl=1 1000w, https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Intrinsic-value.png?resize=300%2C75&amp;ssl=1 300w, https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Intrinsic-value.png?resize=768%2C192&amp;ssl=1 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" data-recalc-dims=\"1\" \/><\/figure>\n\n\n\n<p>The price you pay for an\ninvestment property will only matter if you purchase the <em>wrong<\/em> asset. An\ninvestment grade asset will, in the long run, mask any purchase price errors\nthat you may have made. That is why focusing on the <em>quality<\/em> of the asset\nis easily the most important thing you must do when investing in property. Simple\nmath proves timing the market or buying below fair value is relatively\nmeaningless. <\/p>\n\n\n\n<iframe loading=\"lazy\" src=\"https:\/\/webplayer.whooshkaa.com\/episode\/685411?theme=light&#038;enable-volume=true\" height=\"190\" width=\"100%\" scrolling=\"no\" frameborder=\"0\" allow=\"autoplay\"><\/iframe>\n\n\n\n<h3 class=\"wp-block-heading\">Purchasing above or below intrinsic value <\/h3>\n\n\n\n<p>Let\u2019s face it. We all\nwant to get the best deal we can, and no one wants to pay any more for a\nproperty than they have to. It is my guess that the desire to buy well is\ndriven mainly by two things; ego and misinformation. <\/p>\n\n\n\n<p>Most people feel stupid\nif they subsequently realise that they overpaid for an asset &#8211; and none of us\nlike feeling stupid. <\/p>\n\n\n\n<p>The misinformation problem\nis that most people think the price they pay for an asset will have an impact\non its performance. But that is not true for investment grade assets. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Show me the numbers <\/h3>\n\n\n\n<p>Anyone that has followed\nmy blogs for any length of time knows that I love to dive into the numbers.\nThis topic is no different. My findings are summarised in the table below. <\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"720\" height=\"405\" data-attachment-id=\"15140\" data-permalink=\"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/intrinsic-value-table\/\" data-orig-file=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Intrinsic-value-table.png?fit=720%2C405&amp;ssl=1\" data-orig-size=\"720,405\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Intrinsic-value-table\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Intrinsic-value-table.png?fit=300%2C169&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Intrinsic-value-table.png?fit=720%2C405&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Intrinsic-value-table.png?resize=720%2C405&#038;ssl=1\" alt=\"intrinsic value\" class=\"wp-image-15140\" srcset=\"https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Intrinsic-value-table.png?w=720&amp;ssl=1 720w, https:\/\/i0.wp.com\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Intrinsic-value-table.png?resize=300%2C169&amp;ssl=1 300w\" sizes=\"(max-width: 720px) 100vw, 720px\" data-recalc-dims=\"1\" \/><\/figure><\/div>\n\n\n\n<p>I compared the after-tax\ncompounding returns resulting from investing in a $750,000 property, holding it\nfor 20 years and then selling. I assumed that you borrowed the full cost of\nthis acquisition (including stamp duty). The only cash you had to contribute to\nthe investment is the holding costs i.e. the difference between the loan\nrepayments and net rental income. I then calculated the internal rate of return\n&#8211; which essentially is your annual compounding investment return after tax. <\/p>\n\n\n\n<p>I then varied two\nassumptions: <\/p>\n\n\n\n<ul><li>Whether the price you paid for the asset was above or below <a href=\"https:\/\/www.investopedia.com\/terms\/i\/intrinsicvalue.asp\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"intrinsic (opens in a new tab)\">intrinsic<\/a> value; and <\/li><li>The average capital growth rate over the 20-year holding period. <\/li><\/ul>\n\n\n\n<p>The reason the investment\nreturns ranges (far right column) might seem high, particularly for higher\ngrowth scenarios, is because of the impact of gearing i.e. you achieve\nrelatively large returns for minimal cash contributed towards the investment.&nbsp; <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What did I find? <\/h3>\n\n\n\n<p>If you purchase a\nproperty that has very low growth prospects e.g. 3% p.a. over 20 years, the\nprice you pay for that asset will have a big impact on your investment return.\nFor example, if you purchase the asset for a price 10% below its intrinsic\nvalue (i.e. buy well), you improve your return by 75%. Whereas if you overpay\nby 10%, you reduce your return by 77%. But the important point is that the\nreturn range is relatively low i.e. between 1% and 7.5% p.a. <\/p>\n\n\n\n<p>However, if you buy a high-quality\nasset that will deliver say 9% p.a. of capital growth on average over the next\n20 years, it doesn\u2019t really matter if you overpay. For example, if you pay 10%\ntoo much, your return reduces by 8% &#8211; but you still achieve a compound annual\nreturn of over 21% p.a., which isn\u2019t anything to sneeze at. <\/p>\n\n\n\n<p>This data shows that the\nbest way to mitigate risk is to level up on <em>quality<\/em>. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Great property for a fair price<\/h3>\n\n\n\n<p>Adapting a quote attributed\nto Warren Buffett, I assert that <em>\u201cI would much prefer to buy a great\nproperty for a fair price than a fair property for a great price\u201d.<\/em> That\u2019s\nbecause a high growth asset will mask any purchase price mistakes. <\/p>\n\n\n\n<p>Buying\nwell (or not) will only impact your investment returns for one year (it\u2019s a one-off\nevent). However, the <em>quality<\/em> of your asset will impact investment\nreturns each and every year. As such, you will remember (or be reminded of) an\nasset&#8217;s quality long after you have forgotten how much you paid for it. <\/p>\n\n\n\n<p>Sometimes the desire to\n\u2018buy well\u2019 encourages investors to set their budget too low and as such, they repeatedly\nmiss out on the opportunity to purchase high-quality assets. This approach is\nmisguided as the simple math above proves that <em>quality<\/em> is more important\nthan <em>price<\/em>. Price determines what you pay, quality determines what you\nreceive. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What is a high-quality property? <\/h3>\n\n\n\n<p>A high-quality property\nis one that benefits from perpetually high demand but is in finite and short\nsupply. This is often referred to as an investment-grade property. <\/p>\n\n\n\n<p>There are three critical\nattributes a property must exhibit to be regarded as investment grade being: <\/p>\n\n\n\n<ol><li>It must have a long and stable\nhistory of above average capital growth. That is, when you track past sales of\nthe subject property and surrounding properties that are directly comparable to\nit, it should demonstrate that it has grown in value at a rate that exceeds the\nmedian for the capital city it is located within. <\/li><li>By its very nature, investment-grade property is\npredominantly (i.e. more than 50%) represented by land value. That is, the\nbuilding value is less than 50% of the property\u2019s overall value. This is\nnecessary to ensure it has the long-term fundamentals that drive long term\ncapital growth. Land appreciates. Buildings depreciate. <\/li><li>The asset must have two elements of scarcity. Firstly,\nit must be in a location that is highly desirable without any available vacant\nland for sale in close proximity i.e. scarcity of land. Secondly, the dwelling style\nmust be in scarce supply. This excludes high-rise apartments for example. Small\nblocks of units typically build in the 1970\u2019s or earlier are good examples of\nscarce assets. Heritage architecture styles such as art-deco or Victorian are\nin finite supply and benefit from wide appeal. <\/li><\/ol>\n\n\n\n<p>See <a href=\"https:\/\/wealthcoach.com.au\/stage\/makes-proprty-investment-grade\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">here<\/a> for more. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Buying for less than intrinsic value is dependent upon\nluck <\/h3>\n\n\n\n<p>It\nis possible to purchase property for less than intrinsic value. However, my\nthesis, from personal and professional experience is that the opportunity to do\nso is driven more by luck than anything else. That is, you have to be in the\nright place at the right time. <\/p>\n\n\n\n<p>As we all know, luck can\nstrike randomly. You might be lucky straight away and find a great property at\na great price after only a few weeks of looking. Alternatively, it might take\nmany, many years, if at all. In the meantime, the missed capital growth will\ncost you dearly. <\/p>\n\n\n\n<p>Since I am only attracted\nto evidenced-based strategies, I always counsel my clients to forget about\ntrying to find a \u201cgood deal\u201d and make friends with the fact that you may have\nto pay a fair value for an excellent asset. But, of course, if a great deal pops\nup, you should be ready to jump on it. <\/p>\n\n\n\n<p>Of course, if you are not actively in the market, you have zero chance of seeing any good deals. \u00a0\u00a0<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p><strong>P.S.  <\/strong>Coincidentally, after writing this blog I came across the below quote by Warren Buffett\u2019s 96 year old longtime business partner, billionaire Charlie Munger. Charlie says price matters little when the asset is high quality:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>&#8220;Over the long term, it&#8217;s hard for a stock to earn a much better return that the business which underlies it earns. If the business earns six per cent on capital over forty years and you hold it for that forty years, you&#8217;re not going to make much different than a six per cent return &#8211; even if you originally buy it at a huge discount. Conversely, if a business earns eighteen per cent on capital over twenty or thirty years, even if you pay an expensive looking price, you&#8217;ll end up with one hell of a result.&#8221;<\/p><cite>Charlie Munger<\/cite><\/blockquote>\n   ","protected":false},"excerpt":{"rendered":"<p>The price you pay for an investment property will only matter if you purchase the wrong asset. An investment grade asset will, in the long run, mask any purchase price&#8230;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"__cvm_playback_settings":[],"__cvm_video_id":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[18],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How important is it to buy an investment property below intrinsic value<\/title>\n<meta name=\"description\" content=\"I explore how important is it to buy an investment property below intrinsic value. The answer is that it matters little if you select the right asset.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It is &#039;what&#039; you buy, not &#039;when&#039;, that matters the most\" \/>\n<meta property=\"og:description\" content=\"I explore how important is it to buy an investment property below intrinsic value. The answer is that it matters little if you select the right asset.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/\" \/>\n<meta property=\"og:site_name\" content=\"Prosolution Private Clients\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ProSolutionPrivateClients\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-30T04:08:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-06-30T05:05:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Intrinsic-value.png\" \/>\n<meta name=\"author\" content=\"Stuart Wemyss\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@StuartWemyss\" \/>\n<meta name=\"twitter:site\" content=\"@StuartWemyss\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Stuart Wemyss\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/\"},\"author\":{\"name\":\"Stuart Wemyss\",\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/person\/c3aa63480e5d77a56fbd3f70e41b9ce8\"},\"headline\":\"It is &#8216;what&#8217; you buy, not &#8216;when&#8217;, that matters the most\",\"datePublished\":\"2020-06-30T04:08:33+00:00\",\"dateModified\":\"2020-06-30T05:05:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/\"},\"wordCount\":1264,\"publisher\":{\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#organization\"},\"articleSection\":[\"Property Investing\"],\"inLanguage\":\"en-AU\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/\",\"url\":\"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/\",\"name\":\"How important is it to buy an investment property below intrinsic value\",\"isPartOf\":{\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#website\"},\"datePublished\":\"2020-06-30T04:08:33+00:00\",\"dateModified\":\"2020-06-30T05:05:08+00:00\",\"description\":\"I explore how important is it to buy an investment property below intrinsic value. The answer is that it matters little if you select the right asset.\",\"breadcrumb\":{\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/#breadcrumb\"},\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wealthcoach.com.au\/stage\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"It is &#8216;what&#8217; you buy, not &#8216;when&#8217;, that matters the most\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#website\",\"url\":\"https:\/\/wealthcoach.com.au\/stage\/\",\"name\":\"ProSolution Private Clients\",\"description\":\"Holistic Financial Services\",\"publisher\":{\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#organization\"},\"alternateName\":\"ProSolution\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wealthcoach.com.au\/stage\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-AU\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#organization\",\"name\":\"ProSolution Private Clients\",\"url\":\"https:\/\/wealthcoach.com.au\/stage\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/i0.wp.com\/www.prosolution.com.au\/wp-content\/uploads\/2016\/02\/ProSolution-logo-new-1-580x160-300x83.png?fit=300%2C83&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/www.prosolution.com.au\/wp-content\/uploads\/2016\/02\/ProSolution-logo-new-1-580x160-300x83.png?fit=300%2C83&ssl=1\",\"width\":300,\"height\":83,\"caption\":\"ProSolution Private Clients\"},\"image\":{\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/ProSolutionPrivateClients\/\",\"https:\/\/twitter.com\/StuartWemyss\",\"https:\/\/www.linkedin.com\/in\/stuartwemyss\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/person\/c3aa63480e5d77a56fbd3f70e41b9ce8\",\"name\":\"Stuart Wemyss\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ae5c5d8e27329e215a9779262143f501?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ae5c5d8e27329e215a9779262143f501?s=96&d=mm&r=g\",\"caption\":\"Stuart Wemyss\"},\"sameAs\":[\"http:\/\/www.prosolution.com.au\"],\"url\":\"https:\/\/wealthcoach.com.au\/stage\/author\/swemyss\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"How important is it to buy an investment property below intrinsic value","description":"I explore how important is it to buy an investment property below intrinsic value. The answer is that it matters little if you select the right asset.","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"It is 'what' you buy, not 'when', that matters the most","og_description":"I explore how important is it to buy an investment property below intrinsic value. The answer is that it matters little if you select the right asset.","og_url":"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/","og_site_name":"Prosolution Private Clients","article_publisher":"https:\/\/www.facebook.com\/ProSolutionPrivateClients\/","article_published_time":"2020-06-30T04:08:33+00:00","article_modified_time":"2020-06-30T05:05:08+00:00","og_image":[{"url":"https:\/\/wealthcoach.com.au\/stage\/wp-content\/uploads\/2020\/06\/Intrinsic-value.png"}],"author":"Stuart Wemyss","twitter_card":"summary_large_image","twitter_creator":"@StuartWemyss","twitter_site":"@StuartWemyss","twitter_misc":{"Written by":"Stuart Wemyss","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/#article","isPartOf":{"@id":"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/"},"author":{"name":"Stuart Wemyss","@id":"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/person\/c3aa63480e5d77a56fbd3f70e41b9ce8"},"headline":"It is &#8216;what&#8217; you buy, not &#8216;when&#8217;, that matters the most","datePublished":"2020-06-30T04:08:33+00:00","dateModified":"2020-06-30T05:05:08+00:00","mainEntityOfPage":{"@id":"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/"},"wordCount":1264,"publisher":{"@id":"https:\/\/wealthcoach.com.au\/stage\/#organization"},"articleSection":["Property Investing"],"inLanguage":"en-AU"},{"@type":"WebPage","@id":"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/","url":"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/","name":"How important is it to buy an investment property below intrinsic value","isPartOf":{"@id":"https:\/\/wealthcoach.com.au\/stage\/#website"},"datePublished":"2020-06-30T04:08:33+00:00","dateModified":"2020-06-30T05:05:08+00:00","description":"I explore how important is it to buy an investment property below intrinsic value. The answer is that it matters little if you select the right asset.","breadcrumb":{"@id":"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/#breadcrumb"},"inLanguage":"en-AU","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/wealthcoach.com.au\/stage\/intrinsic-value\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wealthcoach.com.au\/stage\/"},{"@type":"ListItem","position":2,"name":"It is &#8216;what&#8217; you buy, not &#8216;when&#8217;, that matters the most"}]},{"@type":"WebSite","@id":"https:\/\/wealthcoach.com.au\/stage\/#website","url":"https:\/\/wealthcoach.com.au\/stage\/","name":"ProSolution Private Clients","description":"Holistic Financial Services","publisher":{"@id":"https:\/\/wealthcoach.com.au\/stage\/#organization"},"alternateName":"ProSolution","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wealthcoach.com.au\/stage\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-AU"},{"@type":"Organization","@id":"https:\/\/wealthcoach.com.au\/stage\/#organization","name":"ProSolution Private Clients","url":"https:\/\/wealthcoach.com.au\/stage\/","logo":{"@type":"ImageObject","inLanguage":"en-AU","@id":"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/www.prosolution.com.au\/wp-content\/uploads\/2016\/02\/ProSolution-logo-new-1-580x160-300x83.png?fit=300%2C83&ssl=1","contentUrl":"https:\/\/i0.wp.com\/www.prosolution.com.au\/wp-content\/uploads\/2016\/02\/ProSolution-logo-new-1-580x160-300x83.png?fit=300%2C83&ssl=1","width":300,"height":83,"caption":"ProSolution Private Clients"},"image":{"@id":"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/ProSolutionPrivateClients\/","https:\/\/twitter.com\/StuartWemyss","https:\/\/www.linkedin.com\/in\/stuartwemyss\/"]},{"@type":"Person","@id":"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/person\/c3aa63480e5d77a56fbd3f70e41b9ce8","name":"Stuart Wemyss","image":{"@type":"ImageObject","inLanguage":"en-AU","@id":"https:\/\/wealthcoach.com.au\/stage\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ae5c5d8e27329e215a9779262143f501?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ae5c5d8e27329e215a9779262143f501?s=96&d=mm&r=g","caption":"Stuart Wemyss"},"sameAs":["http:\/\/www.prosolution.com.au"],"url":"https:\/\/wealthcoach.com.au\/stage\/author\/swemyss\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p7FPzp-3Wa","jetpack_likes_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/posts\/15138"}],"collection":[{"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/comments?post=15138"}],"version-history":[{"count":8,"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/posts\/15138\/revisions"}],"predecessor-version":[{"id":15149,"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/posts\/15138\/revisions\/15149"}],"wp:attachment":[{"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/media?parent=15138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/categories?post=15138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wealthcoach.com.au\/stage\/wp-json\/wp\/v2\/tags?post=15138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}