5 Tips to Succeed at Property Investing
It’s simple. Buy a property for investment, then sit back and collect the rents to fund your retirement!
Ahh…if only it were that easy.
Granted, investing in property is a simple concept…but the execution is another story.
So how can you be successful at property investing?
Here’s a good place to start:
1. Be persistent
Consistency is important if you expect to achieve your objectives.
The more offers you put out the better your chances of getting a good property at a good price, so set a goal of putting out a certain number of offers and do it…consistently…if you want results.
2. Understand your risk capacity
Buying property for investment is a risky endeavour, but there are ways to mitigate potential losses.
When you understand your own capacity for taking on risk you’ll know what kind of structures to set up, what types of properties to go after and what kind of strategy(ies) to execute that will deliver the results you need while letting you sleep at night.
3. Put together your “A” Team
Don’t go it alone when you buy a property for investment…put together a team of professionals you can count on to give you great, unbiased advice based on your particular situation.
Due diligence is as important in putting the right team together as it is when looking for the right investment property. Look for individuals who are investors themselves and who are experienced at helping others invest in property.
4. Plan for the worst…and the best
When you buy a property for investment, you increase financial risk to yourself, but you also increase the possibility of financial benefits as well.
As one investment property won’t provide financial freedom you’re going to need a plan for buying multiple properties. Part of those plans should consider what options you have should those properties grow or fall in value.
Plan for every possible contingency and you’ll make smart choices based on the numbers, not emotion.
5. Be patient
You’ve got to be patient not only in waiting for capital growth, but in selecting properties that will suit both your financial situation and your goals.
If property investing were fast and easy, everyone would be doing it.
It takes time to create wealth, but it’s well worth the struggle and the wait.
If you’re interested in investing in property, register to attend our next Property Investor Night.
At these FREE events held all across the country we discuss where the growth markets are right now, and share ways you can navigate your way to financial freedom through investing in property.
Seats fill up fast, so book yours now!
The following article has been supplied by the ATO. Buying an investment property is a financial commitment that many property investors choose to split with another person. But did you know that co-owning your investment property with someone else will impact your...
Studies of habits and their close cousin, willpower, have been done, giving us insight into how people form - and keep - habits. Did you realise that science shows our habits are “etched” into our brains? Once a particular action or set of actions have become a habit,...
Like anything else in life, learning how to buy property for investment takes time and effort, but the benefits you’ll receive far outweigh the effort you need to put in. To help ease the learning curve a bit it’s helpful to have a few hard and fast rules to keep the...
If you’ve been investing in houses you’re probably listening to advice you’ve come across and believe to be true. But is it? Just because something is considered “common wisdom” that doesn’t necessarily mean that it’s entirely true. It may be only partly true or it...
Beginning property investors are often so absorbed with finding an investment property that will deliver good capital growth and/or positive cash flow that they forget the very important matter of protecting those assets. Protecting your wealth is no less important...
Buying investment property to grow your wealth is a well proven strategy. So why then is it so scary for many would-be investors? A number of reasons, but in my opinion, the two biggest reasons people are afraid to invest in property are: The large amount of money...
You can find a great investment property, in a growth location, and still miss out on positive cash flow because you weren’t able to negotiate a price and terms that worked for you. If you’re not comfortable negotiating for what you want or if you’d simply like to...
The superannuation balance of Australians is dismal. Men have on average $183,000 in their accounts whereas women have barely more than half that - $93,000. In fact, only 10% of Australians have in excess of $100,000 in their super! Obviously then, lots of...
At Positive Real Estate, we provide “time proven” property investing information and advice. We work directly with property investors throughout Australia, helping them reach their wealth creation goals. Recently, Bupa Landlord Insurance showcased us in a post on the...
You didn’t buy your first investment property without a plan, so why should your retirement plans be any different? Retirement planning - in terms of financial concerns - should definitely be a part of building your investment property portfolio, but it takes much...