What are your reasons for wanting to invest in property?

o   Periodic Income

o   Appreciation in Value

o   Control of investment

o   Pride of Ownership

o   For use by Owner

o   Financing Leverage

o   Income Tax Shelter

o   Hedge on Inflation

Now IS the time to invest in a 2nd property or an investment property.  House prices will not be getting much lower.  Interest rates are hovering around 4.5-5.5% (compared to 18% in early 1980s) and inflation has been zero through out all of 2008.  Once you've found a property that fits your likings, buy it!  A year down the line when mortgage rates are on the rise and inflation is turning its ugly head, you could be sitting pretty with a valuating property that brings in a cash-flow every month.