This just in.
Kieran Clair, editor of Australian Property Investor magazine announced in a statement this week that the national magazine was closing its doors.
On an announcement given to MediaWeek Kieran said,
After its 20 years on the magazine rack, I’m sad to say the new media environment has caught up with our wonderful publication. API magazine has closed its doors with the current issue being its last release. A decision to wind up the company was communicated to both the staff and I yesterday.”
The news comes as quite a shock to over 130,000 of the magazine’s avid readers, and even more so to our Property Resource Shop community, as Kieran Clair, Mitch Bloyce and the rest of the team at API magazine have been solid supporters of our members and property networking events for the past decade.
What You Should Learn From This
If there’s one constant in this world it’s change. As investors, we need to be able to adapt to the ever changing landscape that surrounds us.
That being said, being a property investor gives you some distinctive advantages that will probably last for as long as you’re in business, as well as your grandkids and their grandkids.
Bricks and mortar, compared to media, software, or tech, is a solid investment vehicle for two key reasons:
- Having a roof over our heads (shelter) is one of the four essential needs for humans to survive (the other 3 being oxygen, water and food)
- The property market changes in a manageable time frame allowing investors to make educated decisions based on key market indicators
Not all industries have the luxury noted in point 2… and just this week with the liquidation of API magazine we have seen proof of that.
No doubt the changing landscape of the print and online publishing sector has meant that even the larger and more successful businesses need to adapt or die.
This provides a timely opportunity to reassess our own goals and commitments as we move towards 2017
- What unknown risks are at play in your own property investing projects?
- What debt levels are you comfortable with should the market take a turn for the worst next year?
- What properties are you bringing to market in the next 12 months and will there be a demand for your product?
As property investors, our focus should be to become experts at solving problems and that includes having the ability to foresee those problems and act accordingly to mitigate the risk they present.
Farewell, API Magazine! 🙁
The API team regularly published success stories detailing case studies from investors implementing active property investing strategies in the current market… some of which were from our own Property Resource Shop members.
On behalf of everyone at the Property Resource Shop, I thank Kieran and his awesome team at API magazine for the contribution they have made to our wonderful property investing community.
If you’ve enjoyed reading API magazine over the years, please leave a comment below letting Kieran and the entire API team know they’ll be missed!