Australians love to invest in property.
Most Australians, however, are absolutely winging it when it comes to buying investment property. They stick to investing in areas that are local to them, or even worse, invest in other cities or states that they have very little knowledge in.
No wonder that must property investors underperform.
This is why we strongly advocate engaging a specialist property investment adviser when making investment property decisions.
And I am not talking about slick snake oil salesman who will push you into poor quality, underperforming property investments.
I am talking about trustworthy and professional property investment adviser who works hard with your best interests at heart.
So, why should you use a property investment adviser for your next investment acquisition?
1. They are property investment experts with years of experience.
Property investment advisers live and breathe property. They understand the nuances of investing in property and the characteristics that an investment grade property has, both on a macro level and on a micro level. They have typically acquired dozens, if not hundreds of investment properties on behalf of both clients and themselves, over years in their profession. As a bonus, this time on the ground ensures that they are well connected in the industry, opening up investment opportunities that are just not available to the average punter.
2. They are well backed with systems for researching the best areas to invest in and when.
Excellent property investment advisers will invest in more than one area geographically. They understand that different states, and different cities within those states, and different suburbs within those cities, will perform good and bad at different times. These systems and processes are applied in an attempt to protect investors from purchasing into a poor performing market and to ensure that investors are putting their hard earned into markets that are positioned to perform.
3. They take the stress out of the property investment process.
Whilst investing upwards of half a million dollars in a single property may seem like a daunting process, experienced property investment advisers have been there hundreds of times before. With this knowledge and experienced, they can hold your hand through the ups and downs of the property investment process, ensuring that buying your first (or second or third or fourth) investment property is as enjoyable and exciting as possible.
4. They will help you create a property investment strategy for the long term.
Top tier property investment advisers will listen and understand your goals, and then use property as a vehicle to help you achieve them. Often, property investment advisers will help you manage the property once it has been acquired to ensure that it continues to perform in the short term and the long term. You want to have the comfort of knowing that the team you are working with have your best interests at heart and are in this for the long haul.
5. They do all the heavy lifting for you.
For anyone who has ever completed the research, due diligence, attended the open homes, negotiated with agents, arranged inspections and all the other little tasks that come with buying an investment property, you understand the amount of time and energy that must be contributed towards a property investment. When you have a property investment adviser on your side, all the heavy lifting is taken care of.
6. They can assist you with executing more advanced property investment strategies.
After accumulating a couple of investment properties, you may want to step it up and begin getting involved with more advanced property investment strategies, such as renovating or developing. When you have the right property investment adviser on your team, they can help you source the right properties for such strategies, as well as help facilitate, and project manage the renovations or development of the site for you. This is not for beginners, and we strongly suggest having an expert guide you down this path.
For my two cents worth, I will personally continue to utilise property investment advisers for all my property investments moving forward and will continue to suggest that all our clients do the same. It really is a no brainer.
For more information on property investing, feel free to reach out to me.