9 Tips For Buying An Investment Property
7 Mistakes Property Investors MUST Avoid
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Transcript of Video
Today i will be sharing 5 more tips for Property Investors
In addition we will provide you with an opportunity to secure your free, 50 Must Know, Property Investing Tips which are essential reading for all Property Investors
My name is Darryl Simms from Latte Property & welcome back for Part 2 of our "9 Tips for buying an investment property"
Tip number 5 is to look at Supply and Demand
Vacancy rates are currently quite low in many Australian cities and there are no signs of this changing in the near future. Rental shortages in inner city areas are likely to remain for some time so investors can continue to expect low vacancy rates and increasing rental yields.
A word of caution though, there are always small pockets of suburbs in and around the CBD that tend to experience high oversupply and therefore you will have fierce competition when looking for a tenant for your new property.
Tip 6. Leave your emotions at the door
Buying an investment property is very different to buying a home to live in and therefore requires a totally different mindset. Stay focused on "the numbers" during your property search and don't let your emotions take over. Investment property decisions should be made using logic, not with personal feelings and emotions, such as how you might enjoy living in this property yourself. Just because you would like it doesn't necessarily mean your target market will.
Tip 7. Identify your ideal tenants before buying
Make sure any investment property you purchase is going to suit your target rental market. Many tenants are looking for a low-maintenance lifestyle property. Large gardens are not in demand like they were in previous decades and young professionals would rather spend more time eating out than maintaining a garden. It is also important to deliver what tenants want such as security, fast internet access and modern appliances. These are some of the features that make properties more attractive to potential tenants and will help you achieve higher rental returns.
Tip 8. Remain focused
It is important to have clarity around your investment objective, be it for capital growth or sustainable yield reasons. It is also critical to understand what your borrowing capacity is and how ready you are for investing. Have you set up the right ownership structure and do you have funds readily available for your deposit. Investors with a clear idea of which type of property to purchase and have a professional property provider guiding them, will have a greater chance of success on their property investment journey.
Lastly, tip number 9. Seek expert advice
Everyone seems to have an opinion when it comes to property investing, especially friends and family, but it will pay to take advice from professionals in the field that have worked in the industry for several years holding a strong reputation. It is important to engage the services of an experienced professional that has access to quality information and research to help you as an investor build and grow a successful property portfolio.
That's it for this video.....wishing you all the best with your property investing journey
Remember to stay informed and register for your free, 50 Must Know, Property Investing Tips, via the link below
Thanks for watching & I look forward to seeing you inside our next video
Remember to register for your free 50 Must Know Property Investing Tips, via the link below
thanks for watching & I look forward to seeing you inside our next video
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