Owning investment property means taking on a lot of responsibility, whether its through debt or managing your portfolio, the responsibility falls on the owner/landlord.
When it comes to debt, everybody’s risk factors and structures are very different to another persons, so don’t follow the crowd, set your structures up to suit your own personal circumstances.
Target on a specific area that you can research indepth before taking the plunge, if you try to target a number of areas at the same time you will get confused as to how much property is actually worth in that area, how much the rents should be and how much they would resell for. This could end up costing thousands of $$$$$’s as you may think what you are buying is a good deal and its actually not.
Be smart when buying property there should always be something in the deal for you (i.e equity) otherwise you have to question whether its really worth buying. Look for a twist to the property that everybody else has overlooked, go into buying property with an open mind and lots of vision – this vision could make you thousands of $$$$$’s.
It doesn’t matter whether the property is going to be your own home, an investment property or a property you are going to onsell – unfortunately money needs to be spent on them – so if you don’t want to spend money, don’t buy them and let the serious investors snatch them up.
