We all know that investing in property is a solid path to financial freedom, at least most of us does. But being a property investor doesn’t come easy to everyday Australians. So, we’ve listed four proven and tested tips to get you started on your property investment journey.
Start With The End Goal in Mind
Work out why you want to invest in property, and what are you trying to achieve. As that will dictate everything from the property that you buy to the sort of loan that you get. It will determine how many properties you need, and the amount of passive income you need.
Have a Strategy
Have a strategy in place. Once you’ve figured out what your end goal is, make sure that you create a strategy to help you achieve it. This will dictate the kind of properties that you need to buy and how many properties you need to buy. It’s going to determine if you’re chasing capital growth or yield. It is important to work out a strategy before you think about buying a property.
Work With Professionals
You need to make sure you’re working professionals who know how to help become a successful property investor. A proficient finance broker who understands the lending game. An accountant who understands and appreciates your benefits and all the tax implications of investing in property. A strategist that will help you understand your goals and help you build a strategy. And lastly, a property advisor who’s going to help you secure the right asset for you out of millions of properties for sale in Australia.
Understanding The Finance Game
Years ago I read that Finance and Property are the same things. It stays as true today as it did back then. You’re probably going to utilize the bank’s money for you to invest in property.
That is why understanding the lending game in order to build your property portfolio is important.
Make sure that you understand the lending game or you work with someone who does. So, you can buy not only your first investment property but a whole suite of investment properties.
Join our Facebook Community Your Lifestyle Business to have more free content like this. Or book a Property investment lending Strategy with one of our lending specialists.