When we first start out investing in houses we know that we have a lot to learn so we focus a great deal of our effort towards learning how to invest in property.
After time, however, when we’ve been at a it a while and we’re living our day to day lives, it’s easy to let the learning slip from us.
This is unfortunate.
It’s important to make learning about investing in houses, finance, market conditions, etc. a part of our lifestyle.
The following five investing tips are nothing new, but they are an important reminder of where our focus should lie if we want to achieve financial independence through property investing.
1. Emotions should be kept separate from your decision making
Property investing is almost a national pastime…we love it!
Don’t believe me?
One look at the ratings for popular shows like The Block will prove it to you.
However, we can’t let our love of all things property whisk us off our feet and take us for a ride…we need to be level headed and let the numbers do the talking when it comes to investing in houses.
2. Investing in houses is a long term venture
Don’t get caught up in the gloom and doom that permeates so much of the talk surrounding investing in houses…it takes time for capital growth to increase our properties’ value.
While it often takes longer than we’d like, property is a time proven wealth creation vehicle that delivers results more safely than other types of investments.
3. Getting finance right is key
Without capital you cannot grow your investment property portfolio. And to get access to that capital you’re going to need to understand finance.
Team up with a finance professional who knows what property investors need. Investing in houses is always better – and easier – when you have someone in your corner who knows what you need and who has the knowledge and skills to help you succeed.
4. Find the right property market
Volumes of books and articles have been written about finding the right property market. In fact, here at Positive Real Estate we’ve written more than a few books and articles ourselves!
The point is, when you understand what makes a market tick, what signs to look for and what results you need, you’ll have no issue finding the right property market to invest in.
5. Find the right property within that market
Many investors will find the right property market, but they miss the mark by choosing the wrong property type.
The kind of property you’ll buy; which includes more than just whether it’s a unit or a house, is determined by the individuals living in a particular suburb.
Just as retail business owners keep their shelves stocked with the products their customers want to buy, you as a property investor, need to know what the area demographic wants and cater to those desires.
That is…if you want to create wealth through investing in property!
When you buy the right property in the right market you’re also ensuring that your vacancy rates remain as low as possible.
If you are interested in discussing similar matters with like-minded property investor people and professional coaches, feel free to join us at our next FREE Investor Property Night near you!
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