Property Investment is a serious and ever-changing business. Not all people who get involved in property investment will become financially independent.
Many will buy the wrong property at the wrong time or in the wrong location, and under the wrong entity and wrong loan structure. Also currently, is not easy to get a good price and many properties on the market are not investment grade. But if you do it correctly, you can achieve financial freedom over time and replace your 9 to 5 job salary.
So how to buy property to achieve the lifestyle you desire and minimise the risk?
Property investors who achieve their ultimate success have the following elements:
1. They treat their property investments like a business, and over time achieve wealth because they buy strategically in the right entity and grow this into a multi-million dollar investment property portfolio.
2. They are savvy investors – they look at figures and calculate the risk. They do not over-commit and have financial buffers in place to ensure they can sail through the tough times.
3. They take a holistic approach to their investment decision.
4. They leverage with experts – terms in the contacts, financial advisor/broker to structure the right loan and accountant to maximise tax deductions legally.
By having a systematic approach towards property investment, surrounding yourself with a reliable and professional team of advisors to organise your finances and acquire the right knowledge – you will be able to buy great properties that will appreciate in value and achieve your financial goals in no time.