When it comes to successful property investing, there are three golden rules that we ask our clients and smarts investors like you to follow.
Rule #1: Buy Where It’s Booming the first golden rule is to buy where it’s booming.
That means unless your local area is booming, you need to be looking a bit further. Don’t worry if you don’t know where to look, just talk to our team of experts who can help identify this for you.
Why buy where it’s booming you ask? Good question – Because you’ll get more growth more quickly, allowing you to get into your next property sooner. If you buy locally, you could be stuck at the same number of properties for years. If buying where it’s booming makes you nervous, then be assured that plenty of our clients are doing incredibly well with this strategy. If you’re nervous because you don’t know or understand how to buy where it’s booming, the best thing you can do is talk to our team of experts to help you – call 1300 828 636 or email us at [email protected]
Rule #2: Only Buy Cashflow Positive Properties the second golden rule is to only purchase properties that are cashflow positive. If you break this rule, you’ll very quickly run out of money and not going to be able to buy anymore properties, and your portfolio will stop growing. But if you follow this rule, as long as you have the leverage and equity, you can keep your portfolio growing indefinitely. So, if you want to be successful like our clients are, only buy cashflow positive. Again you can talk to our team to help you identify such properties which will benefit you.
Rule #3: Never Sell! The final golden rule is to never sell. And certainly never buy with the intention of selling in the near future. When you sell an investment property, you have a number of expenses, like capital gains tax and agent’s commission. But more importantly, you will never make another dollar from that property again. The name of the game is to buy time so that you can hold onto your properties long-term so that you can reap the benefits. So, why do people sell? They’re afraid. They think the market’s going to collapse. They sell because they need the money but they don’t understand how the finance structure works so that they can get money from their property without having to sell it. So if you’re thinking about selling one of your properties, please talk to our team of experts first who can help you with some good advice! The only time you should ever sell a property is if it’s got serious problems that is costing you serious amounts of money. Otherwise, hang onto it. Don’t be one of those of investors who have sold a property fearing the market news and regret it.
There is always a risk with investing in real estate, but experience helps mitigate risk and we have multiple team members with decades of experience who can guide you through this process.
If you are not already investing, we can help you get started. It is never too late to make a good decision. Call 1300 828 636 or email us at [email protected] for an appointment now.
