1. Set clear financial objectives
Setting goals and objectives in terms of your budget and financial goals are the key to successful investing.
You have to set tangible targets around things like return on investment, cash flow and time frame. Plus, other factors such as risk and liquidity factors.
2. Treat your property as a business
You have to make sure all factors of the property in terms of knowledge and experience and your property is meeting financial targets.
3. Seek Help
There may be additional costs involved but you should view this as a way of mitigating your risks and as an investment in your education.
4. Don’t forget Ongoing Costs
It is very important to factor in ongoing costs such as rates, insurance, maintenance and property management.
However, these additional costs can be reduced by keeping the property in good condition.
5. The Benefits of Location
When choosing a property to invest in it is important to not just look at the property itself, but also research the area around it.
Location is one of the most important factors when it comes to an investor determining the success of their investment in the future.
In order to find the right area you can take a look at our suburb profiles which inform you about the areas where we locate our properties at.