But make that a definite yes if you’re considering high risk property investment strategies in resource towns.
Bright Yellow Happiness is the first book by author Kate Moloney. You might remember Kate as Your Investment Property magazine’s 2012 Property Investor of the Year. In their early 20s and at the height of the mining boom Kate and husband Matt brought 16 properties in mining towns including Moranbah. But when the boom busted, Kate and Matt were left with a “$5.8 million debt disaster”.
If you want to see how badly the bubble burst, check out Domain’s graph which shows a steady growth trajectory for Brisbane median house values while Moranbah, Mackay and Gladstone have all tumbled from their peaks in recent years.
Bright Yellow Happiness is part self-help, part self-discovery and packed full of hard learned lessons that can help investors avoid the marketing hype.
It’s a bold move to own up to a multi-million loss and Kate does so with a sense of humour. As she says on her website: “Who wants to be a poster child for a financial f— up?”
Cheers to you Kate for candidly revealing what happens when the bubble bursts and helping others to learn from your story.
Read more about Kate’s story or buy the book on www.katemoloney.com.