One of the biggest mistakes investors make, a mistake that costs them many 1000’s of dollars, is not knowing what they want to achieve with the vehicle of property investment.
Many get into big purchases and over commitments, without a definite goal or a strategy and without fully understanding what they are getting into.
To buy a property after all is no big deal, but to live from it for the rest of our life can be quite challenging for most investors in Australia, specially for those who are not following or do not associate with successful investors who have already walked in the property path and achieved unlimited options.
Lets look at 9 myths and misconceptions that property investors should be aware of:
- There are those advisors who try to tell you how you can buy 15-30 properties in 2 years time – but I haven’t met the bank that can lend you funds that often.
- There are those who preach that only positive cash properties are king and negative gearing is a trap – but I have yet had the chance to find good positive cash property with 7-10% yield on a great location.
- There are opinions against buying brand-new or off-the-plan – but how many established properties, people can buy in short time without giving themselves extra time for saving more deposits, or applying for a new loan?
- Many advise to buy only in Sydney as “market is hot and everywhere is flourishing and people queuing up”. But would buyers be able to keep their asset in 2-3 years when the market goes on a down term? Would they be able to service the loan with Sydney low rental yields?
- There’s a trend now to buy in Melbourne or Brisbane as it still affordable and so on the rising market – however how many people know how to buy a key product that will stand above the rest and make money?
- Some of the investors get to hold multiple investment properties. Would they be able to hold all the properties in their portfolio? Will those investors be associated with the right successful people who not transmit negative information to the universe and increase their chances to hold on their portfolio?
- Many promise a glamour journey, before completion of the projects, with no major issues, good valuations, great tenants, high growth, good yields. Would investors have enough faith to keep their asset base and deal with the challenges that might come?
- Some keep looking for the one “perfect property” and end up buying nothing or only one in their life-time. But what if they could have bought 5 properties that are only 80% perfect?
- Some investors would only buy the cheapest property and usually end up buying the competitor property for 40k less. Will they have the ability to keep the property? Will they get the same professional advice and security with this cheaper product?
Property is only a vehicle to move forward in life and there is a proper way to do it, without following risky and trendy marketing technics who praise one strategy and neglect other. First of all, is to learn from successful investors that have the right integrity to assist in this long journey and bring you successfully to the end of the line.
I can show you how to live life and to get life.
For any question, strategic consultation and understanding the meaning of wealth creation please leave us a message and we will contact you.
Property Event on Sat the 19th
Last minute notice but for those of you who find it important to make a change, we will run a valuable Property Event on Sat the 19th.
- A speaker who already walked the talk will cover those aspects of Wealth creation.
- Affordable spots in this hot market.
- How to buy after the boom.
- Bank policy changes, how it might effect us the investors.
- Opportunities in projects that stand out in the equation
Time: SAT the 19th of Sep, 2-4pm
Venue: address will be send via email or via SMS.