This week, we’re diving into some essential strategies to help you reduce risk when investing in property. These tips are particularly valuable if you’re venturing into property investment for the first time.
Tip 1: Invest in a Growth Location
One of the fundamental principles in property investment is location. It’s crucial to invest in areas experiencing population growth and development.
Over the past two and a half years, Australia has witnessed significant internal migration, leading to shifts in growth patterns.
When choosing where to invest, consider factors like government infrastructure investments, new schools, public transportation, and private enterprises setting up shops and retail spaces.
These factors drive employment and tenant demand, ultimately boosting rental income in the long run.
Tip 2: Appoint a Stellar Property Manager
A reliable property manager is a key player in your investment journey. Aim for a property manager who understands the industry intricacies and doesn’t oversee an excessive number of properties.
The right property manager can make a significant difference, ensuring your investment is well-maintained and maximizing your returns.
Tip 3: Utilize Recommended Professionals
Embarking on a property investment journey is akin to starting a business.
Just as you’d seek advice from successful professionals when launching a business, do the same for property investment.
Build a team of experts, including a knowledgeable property specialist familiar with the area, a finance professional skilled in property financing, an adept property manager, and a reliable solicitor.
This expert team will provide you with the confidence and knowledge to navigate the complexities of property investment effectively.
Tip 4: Seek Advice from Successful Investors
The stories you hear at social gatherings may not always reflect the reality of property investment.
To make informed decisions, it’s wise to seek advice from experienced and successful property investors.
They understand the ebb and flow of the market and can guide you through challenges and uncertainties.
As we delve into the topic of risk mitigation, we’re excited to invite you to our upcoming webinar:
Unlock 35% More Rent: Your Guide to Co-Living Investments
Date: Tuesday, 5th September 2023.
Time: 5:00 PM Australian Eastern Standard Time (7:00 PM NZST).
In this webinar, we’ll explore high-income co-living properties, where rental yields typically range from 6% to 6.5%. These properties offer exceptional returns and align with the principles we’ve discussed today.
Join us to learn how these investments work, along with insights into growth areas and more.
Click here to register.
Best regards,
Geoff Tomkins
Buyers Advocate
PH: 0404 852 781
