![\"Trainings\"](\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/05\/trainings-800x533.jpg\")
<\/p>\nHere\u2019s the good news: investing in property isn\u2019t all that hard.<\/p>\n
But it does require you to follow a number of processes in order to be successful.<\/p>\n
We're still at the early stages of this property cycle with a number of years of strong property growth ahead, meaning new property investors still can get into property and take advantage of a rising market as long as they understand and follow the right steps.<\/p>\n
Is the property investment is a long-term process \u2013 not just an event of buying a property.<\/p>\n
Many naive investors think buying a property and putting a tenant is a \"strategy\" -\u00a0 it's not an investment strategy.<\/p>\n
However, by following these eight essential steps, those new to investing can move forward and start to build a profitable property portfolio that delivers growth for years to come!<\/p>\n
<\/p>\n
This is perhaps the single best tip for newbies because purchasing any old property is likely to result in a failed investment.<\/p>\n
Most investors never get past their first or second property because they haven't adhered to a strategic investment plan.<\/a><\/p>\n Most properties are not what I call investment grade and don't deliver wealth-producing rates of return.<\/p>\n Attaining wealth doesn\u2019t just happen, it\u2019s the result of a well-executed plan.<\/p>\n Planning is bringing the future into the present so you can do something about it now!<\/p>\n When you have a Strategic Property Plan you\u2019re more likely to achieve the financial freedom you desire because we\u2019ll help you:<\/p>\n Strategic investors invest for capital growth because they understand that they must first build a significant asset base before they can lower their loan-to-value ratios and then eventually live off their properties.<\/p>\n This means they chase capital growth rather than cash flow in the early stages of their investment career.<\/p>\n As around 80% of your property's performance will be due to its location, find a location where there is strong economic growth which will lead to job growth which will lead to population growth we will lead to demand for housing.<\/p>\n You'll find this will occur particularly in our East Coast capital cities.<\/p>\n Then look for suburbs where wages have grown faster than the state average \u2013 these are often gentrifying suburbs or established \u201cmoney belt\u201d locations.<\/p>\n Buying an investment property<\/a> and then preparing your property for the rental market will require a certain amount of time and money; it\u2019s best not to underestimate just how many resources are involved.<\/p>\n Set aside a cash flow buffer for a rainy day \u2013 somehow they always seem to come around.<\/p>\n While location does the heavy lifting in your investment property\u2019s performance - owning the right property in that location is critical.<\/p>\n That's why I would only buy an investment-grade property \u2013 one with occupier appeal, a level of scarcity, close to public transport and infrastructure, and one that gives me the ability to add value and manufacture some further capital growth.<\/p>\n Importantly \u2013 your property will need to be suitable for the target market of the area \u2013 which you would have identified in your research.<\/p>\n Rushing into decisions before you have had a chance to mull over all the facts is never a good idea, least of all when you\u2019re dealing with property investment.<\/p>\n Real estate investing is really a game of patience, and the wrong decisions can end up costing you.<\/strong><\/p>\n I'm never in a hurry to find the right property, but when I find the right property I'm in a hurry to secure it \u2013 but only after doing my careful due diligence.<\/p>\n As Warren Buffet said: \u201cWealth is the transfer of money from the impatient to the patient.\u201d<\/p>\n It\u2019s unrealistic to expect you\u2019ll be able to take care of everything yourself as a property investor.<\/p>\n That's why successful investors start by engaging a property strategist \u2013 one who can deliver a holistic approach to their investing.<\/p>\n But to secure your financial future you\u2019ll need much more than just a property strategist or a buyer\u2019s agent.<\/p>\n Metropole offers a 360\u00b0 holistic approach<\/a> to ensure you Grow, Protect and Pass On your wealth.<\/p>\n We customise a solution to meet your specific needs through a time-tested 360\u00b0 system for acquiring wealth and helping beginning investors buy their first property, experienced investors add to their portfolio and sophisticated investors manufacture capital growth by becoming property developers.<\/p>\n It's just too hard to do it all on your own. Property investment is a team sport.<\/p>\n I\u2019ve known investors who own property without having landlords insurance and to me, that\u2019s like playing Russian roulette!<\/p>\n It\u2019s a smart move to take out landlord insurance because it\u2019s your ultimate safety net that will pick up the pieces if something significant goes wrong.<\/p>\n A good policy will pay for malicious damage done to your property as well as for lost rental income if the property is untenable for a period, due to damage by the tenant or another insured event.<\/p>\n Never ever buy sight unseen.<\/p>\n That\u2019s not to say that you should ignore all investing opportunities located interstate but if you do, make sure to use the services of an independent local specialist buyer\u2019s agent<\/a> who will be your \u201ceyes\u201d and ears on the ground.<\/p>\n As I said at the beginning of this article, investing in property successfully needn\u2019t be difficult.<\/strong><\/p>\n Where many investors trip up is when they make common but costly mistakes.<\/p>\n By following this eight-step process, you\u2019ll hopefully avoid misstepping in the first place and will be in a much better position to enjoy a profitable and stress-free experience as a landlord.<\/p>\n\n
<\/div><\/li>\nStep 2. Do your research<\/span><\/h2>\n
Step 3: Be realistic about your costs<\/span><\/h2>\n
![\"Costs\"](\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2023\/08\/costs.jpg\")
<\/p>\nStep 4: Buy the right property<\/em><\/span><\/h2>\n
Step 5: Take your time when making decisions<\/span><\/h2>\n
Step 6: Delegate the work to competent people<\/span><\/h2>\n
![\"Insurance4\"](\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2022\/09\/insurance4.jpg\")
<\/p>\nStep 7: Don\u2019t scrimp on insurance<\/span><\/h2>\n
Step 8: Don\u2019t buy sight unseen \u2013 ever<\/span><\/h2>\n