How To Get Started, Property Investment

How to Start Investing in Property

The dismal worldwide economy may have left a lot of people scrambling financially, but it has also gone a long way towards creating a great income opportunity for those who are looking to build their investment portfolio. I’m talking of course about real estate, and a quick look at how the average price of homes has dropped is enough to let you know that we are currently operating in a buyer’s market. It’s now possible to get your hands on a property that is priced at tens of thousands of dollars less than its true value, knowing that when the market recovers, which it will, you will have made a very smart investment decision.
The market has also created far more renters than buyer’s, which means that getting someone to rent from you really shouldn’t be that difficult. In essence, someone else will be paying your mortgage as you build equity, but if it’s your first time considering real estate investment, then you may not be sure how to get started, or even which are you should buy into. This is where a little real estate investing advice will come in handy and that all begins with figuring out which property to buy.

Real Estate Investment First Step

The first step is deciding upon a property, and most people offering real estate investing advice will tell you that you should focus your attention on new or fully refurbished properties. The reason for doing so is that you will avoid a lot of the potential issues that could arise when opting for an older property. Your money should be used in the investment, and not in repairs and renovations that you will most likely never fully recover over the long haul. It’s also a good idea to buy in an established area, or one that is on the rise in some way. People like to be close to amenities, or where they work, so buying an investment property that is close to the Sydney CBD will have a better chance of being rented than a place that requires renters to drive great distances to get to their destinations.

Location, Location, Location

Deciding to invest in an area that has the potential of high growth and rental demand is also desirable, but that doesn’t mean that you should also lose sight of the property itself. You want to align yourself with a building that looks great inside and out, and which has amenities included that make your rental property seem all the more appealing. A specific example of such would be to invest in an apartment in the historic Goldsbrough Building, where renters are close to transportation and the bustling excitement of Darling Harbour, yet are also in a building that has tremendous amenities like a spa, pool and gym for the residents.

Investment Property Management

The final piece of the investment puzzle comes in finding a property that is maintained by a top notch property management group, that you can be assured will go out of their way to maintain your investment in a professional manner. Certainly, there are many more real estate investment advice tips to be had, but of you follow these basics, chances are you won’t go wrong in your property choice.