Four Secrets of Successful Investors
Step 1. Invest in an area you wouldn’t always live in
Be clear on who your ideal tenant is, depending on your budget, you can invest in an area that is growing, rather than a prime suburb that you’d personally like to live in.
Step 2. Treat your investments like a business
Ensure you have a strategy and business plan – understanding your goals in dollar terms over time. Get the right type of finance, set up the correct ownership and asset protection structures.
Step 3. Be comfortable with numbers
Good properties are just the tools you use to create wealth, as a good property will result in good returns however investing is all about the numbers behind it.
Step 4. Be inquisitive
Education is the first step to becoming a successful investor. Ask questions and don’t be afraid to do further research.
If you’re looking at starting or growing your property portfolio, get in touch with Red & Co’s advisors to get expert advice on finance and property management. We are happy to have an obligation free chat with you. Get in touch by calling 1300 887 328 or email [email protected]