Advice for rookie property investors
Property investment is not something you should ever enter into lightly. But for some reason, that’s what a lot of people who have dreams of making millions with real estate do. They think, ‘I can go out, buy a house somewhere, stick some tenants in it to pay the mortgage and make a killing!
How hard can it be?
The fact is if you’re considering getting started in property investment, you probably have at least a good six months to a year of hard yards to put in before you even think about signing on the dotted line and securing the first asset for your portfolio. Sure, you can jump in feet first, but there’s something to be said for that old adage – fools rush in where angels fear to tread! – and let’s not forget the gem that reminds us ‘patience is a virtue’!
So here are some words of wisdom from an industry insider that you’d do well to heed if you want to play the property investment game.
- Knowledge is property investment power!
- Real Estate Cycles
- Supply, demand and scarcity
- Money, money, money
- Financial fluency