As our real estate markets undergoing robust capital growth and rents on the increasing, more individuals are becoming engaged in property investing. To be specific, there are many advantages of real estate investment:
Yet, if tends to repeat itself, as it most certainly will, some will achieve financial independence through property ownership. Almost half of all property investors sell within the first five years, and 92 percent never really go beyond the first or second property.
Why is that? More likely that most Australians are concerned about the risks of real estate investment. Here are some risks that all property investors cannot ignore!
Well aware of the advantages and risks of property investment, then how to create a surefire property investment strategy? You have to think as a wise and experienced property investors and the following tips are here for you…
Is it cash? Wealth? Financial independence? Perhaps all of these are true. So, first, choose your ultimate objective, and then devise a strategy to get there in a time period that works for you. Real estate investing, like any other journey, necessitates knowing where you’re going and how you want to get there. Furthermore, most investors lack a plan, which is why they become sidetracked or distracted by the current financial trend or the next “hot area.” And, even if they do have a strategy, I’ve found that they rarely stick to it.
After you’ve determined your destination, you must devise an investing strategy to assist you reach that goal. Because you can’t save your way to riches, suggested aim is to accumulate a sizable asset base by investment returns. Here to recommend this six-pronged strategic approach to doing this is to only purchase a property:
This will be determined by your budget, and while houses generally outperform apartments in terms of capital growth, this is heavily influenced by the location of your home.
The location of your investment is essential to its long-term success. You might want to seek for suburbs that have consistently surpassed the national average or are undergoing gentrification. These are often lifestyle suburbs in big metropolitan areas near the CBD, amenities, or the water. And the prominence of the neighborhood has only grown. People appear to like the idea that most of the goods they need for a successful existence are only a 20-minute public transportation journey, bike ride, or walk away. The opportunity to work, live, and play all within 20 minutes of one other has become the standard attractive living.
It’s pointless to try to timing the market; even specialists are unable to do so. Alternatively, the best time to purchase your next investment property or home is when you have the financial capability to do so.
The real estate game is a team sport that requires expert advice and assistance from a trained accountant, an astute legal, a finance broker, an independent property strategist, and a buyer’s agent.
A professional team will be able to tailor a solution to your specific needs using a time-tested wealth acquisition system and assist beginning investors in purchasing their first property, experienced investors in adding to their portfolio, and sophisticated investors in creating capital growth by becoming property developers.
Overall, better think throughout before investing, and take advantage of all available information or assistance to maximize return of your next property investment!
“22 Tips when Investing in Australian Property” by KlearPicture Blogger
“Your Complete Guide to Property Investment” by Michael Yardney
“10 things to consider when buying an investment property” by Robert Chandra