We all know there’s no such thing as job security. That’s why more Australian’s are looking at strategies that put them in charge of their financial destiny.
There’s a number of investment options available. Many Australian’s are opting to purchase an investment property to increase their levels of financial security. We’re also seeing more and more people setting themselves free of financial worry by having a portfolio of property investments.
Everyone needs to live somewhere, which means property is always a sought after commodity.
With first home buyers being squeezed out of the market [and more people from each generation feeling the pinch of high property prices] rental demand continues to increase. These factors are beneficial for investment property owners.
A smart property investment can set up a secondary income of say $1,000 per month. How will this sort of money assist your life? Property also provides investors with some security. If the unexpected crops up, you have the option to sell your property to cover any unforeseen expenses. No stress. No reduction in lifestyle!
Around 1.5 million Australian’s are discovering that it’s extremely possible to create wealth with property. Most only own one investment property. Less than half a percent of these own five properties or more. Unfortunately more than 60% sell their property and get out of the investment market in the first 2 to 3 years. There are many reasons for this including lack of knowledge, lack of confidence, lack of support network and poor planning when purchasing.
Smart investors, no matter what their strategy, speak with experts before investing. For shares, you pay a fee and speak to a stockbroker. For superannuation, you pay commissions and ongoing fees and speak to a Financial Planner.
When it comes to property, many go it alone, and prefer to buy local [so they can keep an eye on their investment]. While this strategy may make investors feel “secure” they may be costing themselves big dollars due to buying in an area with average growth or lower rental yields. This approach is akin to playing Monopoly. Roll the dice, buy the closest property and hope that it makes money for you!
The largest property growth areas may be thousands of kilometres away. Researching and inspecting these areas takes time, money and a lot of “know-how. Let Property Friends support you from the beginning.
Call us (03) 9758 5331 before buying your first [or next] investment property or visit our website at Property Friends.
Property Friends is a specialist Property Investment Advocacy that has been operating for the last 13 years on the basis of 3 principles: Trust, Community & Progress. www.propertyfriends.com.au (03) 9758 5331
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