Property investing is a great income and wealth generator if done with proper research and realistic expectations.
Many 1st-time property investors usually just dive in with a lack of knowledge and just go with the flow of the current market growth. We know because we have interviewed and asked most of our clients why they want to do it now more than ever.
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Knowing how you can differentiate assumptions from reality will get you started on the right footing.
Expectation: Property investing is fairly easy
Anybody can tell you it is easy and you’ll earn a lot of money with very little risk. That is usually the most common pitfall of onboarding a newbie property investor without setting proper expectations. Listen to someone who will lead you to a smart financial decision and not rush you into something without careful planning. It is not easy.
Reality: Property investing requires time, thought, and careful consideration
With proper thought, careful consideration, research and data, and a knowledgeable property consultant to guide you – all will turn out well. Anyone can learn how to make the right choices for their needs when opting to invest in property, but the process does require that potential clients also invest time and energy into learning how they can choose a property that will meet their needs.
Expectation: Only financial experts and seasoned property investors are qualified to make money from investment properties
We have worked with many property investors who do not have any background in finance. Do not be intimidated. Yes experts and seasoned property investors have an advantage but there is no exclusivity – anyone can become a property investor regardless of background.
Reality: You can successfully get started with property investing – even if you’ve never done anything like it before
Your lack of knowledge should not be a hindrance to unlocking great potential. If you believe you can learn it then you owe it to yourself to explore the possibilities. Learn and work with someone who can give you a clear understanding of what you want to achieve. Sound financial decisions are backed by education. If you have the time to learn the basics of property investing, you’re off to an excellent start.
Expectation: I can’t be a property investor because I do not have the money
When you hear of a property investor – you may be picturing a wealthy person with lots of cash at his or her disposal. It almost feels like you have to be rich to get started with property; it takes money to make money, right?
Reality: You don’t need to have a six-figure salary or boundless expendable income to start investing in the property market in Australia.
With a sound investment strategy, the ability to network professionally, and some education on how to get going with property investment – you’ll find the entire process to be far more approachable and feasible than ever before. You don’t need to be a member of the elite to grow a hefty property portfolio. All you need is a good credit standing so you can mortgage a property investment to start with – or use other equity options – it’s not always a cold cash purchase 🙂
How to get started in property investing?
Talk to people who help both first-time and sophisticated investors with finding properties that fit their needs. This is by discussing their Goals, Aspirations and establishing a budget.
At Positive Income Properties, we have a number of investment sectors and can match your Risk and Reward factors to these different sectors.
We also have access to very competent brokers who can tailor a finance package based on your circumstances that will deliver great results.
Gil Elliott is the Managing Director and Founder of Positive Income Properties. Gil has a rich background in business consulting and property investment. All of these he gained in his nearly four decades of experience in the real estate and marketing industries.
