Many people feel property investment is an older person’s game. WRONG! At Property Friends we have a number of investors who are under 30. Why wait? A lot of potential investors put the property in the “maybe later basket”. Historically, house prices have doubled every 7-10 years. Younger investors have time to experience that second growth cycle and have time to steadily increase their portfolio investment. One of our Property Friends is yet to hit 30 and already owns eight rental properties. Now married, this young couple is well on the way to building a multi-million dollar portfolio. After only 10 years of investing in property, their portfolio is so strong that they are now buying properties without using any their own money. The equity that has been generated by their original properties now provides them with the funds to buy their next investment – without dipping into their savings! Once kids come along, many potential property investors have to put their portfolio implementation/growth plans on hold. Because of starting his investment at 19, this property portfolio will continue to grow and provide more valuable – even while the kids are young and at home. The earliest of his purchases is now moving towards doubling in value and the rental return continues to grow as well! By following the Property Friends recommendations of buying in areas that offer a mix of capital growth and rental yield in regions with solid infrastructure and economic diversity, their portfolio continues to perform strongly. Under 30? Now’s the time to start. Here are some tips that can also help get you into the Property Market. Parents –send your kids a link to this article:
- Your parents can provide a helping hand to get you started. They may contribute a % of the deposit – which can be a part investment as well! Ensure you can make the repayments yourself. Remember, rental income from your property will also help you considerably!
- Learn from those who have been already invested. Unfortunately, people who haven’t invested in a property will be quick to pass their negativity, born out of ignorance, or their poor choices, onto you. Before you invest, ensure you are informed. Speak to others who have a property portfolio, ideally to someone who started investing young. This will enable you to gain a realistic view of the property investments, what is actually required to invest and the potential effects it will have on your life.
- Save Save Save: Potential lenders look favourable on you if you can produce some evidence of consistent savings. A little often is perfect… you want to maintain your young fun lifestyle after all!
- Keep your credit under control: Pay all of your bills or loan repayments and credit card amounts each month. If you can’t make payments, reduce your credit card limit, or get rid of your card.
- Speak to Property Friends – We can give you a range of information, even put you in contact with like-minded people! Contact Us!
The years will continue to zoom by quickly, don’t miss the opportunity to reduce a lot of stress and increase your lifestyle! If having a property portfolio that potentially pays for itself is an option you’d like to explore – please contact Uwe and the team today!Contact Us!
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