If you are buying or investing in your first property investment, have you noticed everyone else is suddenly an expert and wants to share their experiences and advice with you? They’re the first to say “When I was buying my first investment property I did this” or “my first investment property was like that.” This is all good and well, but rarely do people tell you what ‘not’ to do and there are a handful of common mistakes many investors make on their first property investment. These mistakes can be costly and often result in investors failing to build their portfolio beyond one or two properties.
It’s not because they don’t have the opportunity or the resources to do so, it’s because they made one of the following easy mistakes on their first time investment property. Investor Assist can show you how to sidestep some of the most common potholes and give you your first property investment tips.
- Don't stretch yourself too far
- Don't be afraid to explore new areas
- Don't buy with your heart, buy with your head
- Don't jump the gun
- Don't settle for second best
- Don't believe buying established is always better
- Don't forget to pre-approve your finance
- Don't forget there are many ways to invest in property
- Don't assume your local bank knows best
- Don't forget the devil is in the detail
- Don't skip the inspections
- Don't be afraid to ask for help
- Don't forget to have fun!
Read the full article on first time property investment and for any further information, contact a Perth Property Investment Specialist today or book an appointment.
Want to get started on your property investment journey? Download the Assist Kit to get started.
DISCLAIMER: This information is of a general nature only and does not constitute professional advice. We strongly recommend that you seek your own professional advice in relation to your particular circumstances.Related