Wondering where to start when it comes to investing in property? It's easy to get bogged down with the overwhelming amount of information and opinions available to you these days. We have outlined several easy to follow tips to help you get out there and investing.
1. Plan, Prepare and Research
Take the time to plan out your path, look at what steps you need to take and research your options. Talk to people that are already investing in property and find a strategy that suits you. Avoid short cuts, be patient and dive in once you're ready.
2. Budgeting is a Must
Set a budget and stick to it. Look at properties in your price range and don’t get caught up in the emotion of the sale. If the seller is asking to much and it’s over the budget you have set for yourself then be prepared to walk away if the seller won’t come down. There will always be another opportunity.
3. Set Your Goals
Have clear goals and time frames, plan out where you want to be and create steps on how you will achieve it. Having a well thought out plan with clear goals will help you stay on track and stay focused.
4. Assess Your Risk Profile
Each person is different when it comes to risk, especially when money is involved. Know your risk profile and stick to it. As you get more comfortable with investing your risk profile will change, but if your gut is telling you “No” then you need to listen to it and figure out why.
5. Look for The Prime Locations
Research areas that are producing the results you are after. The old analogy of buying the worst house on the best street is still true today. Stick to your budget and buy in an area that has proven to deliver returns.
6. Property Investment Seminars
Getting educated is the key to success. Property investment seminars can have a lot of value for little to no cost. Our Property Investment MasterClass is free and 100% educational, there is no sales pitch to buy property at the end, we are focused on giving useful and valuable advice. You can download your free ticket below.
First National is Australia’s largest independent real estate group and the only 5 Star Canstar rated real estate group in Australia