While investing in property is smart and rich people do it all the time, it does carry fear for many people. It is understandable given the large sums of money involved, it is a big purchase. However, these fears can be overcome with some research and good advice, and the financial rewards can be significant.
Do you hold any of these common property investment fears?
1. Buying a dud property – nobody wants to buy a property that does nothing but cost them money, time and fuels their anxiety.
2. Buying in the wrong suburb – who wants to invest in an area that offers no capital growth, low rents and high vacancy rates?
3. Paying too much for the property – you get caught up in the emotion of buying a property, or the competition is fierce and you pay too much.
4. The property is expensive to maintain – the pipes keep bursting, the roof leaks, and there is no end of maintenance required to keep the property functioning.
5. Missing out on the rising market – the value of properties keeps going up but you are stuck on the sidelines missing out on the gains (because you don’t know how to get in safely).
6. Not having enough time to find deals – you like the idea of investing in property but you don’t have time to research suburbs or figure out the numbers.
7. Low tenant demand in the area – how can you be certain there are enough renters in the area to warrant an investment property?
8. Buying a poorly located property – no shops, transport or amenities within walking distance, so who wants to live there?
9. Dealing with stressful auctions – bidding at auctions is stressful and prices go way over my budget anyway.
10. High owners corporation fees – what about all those fees to hold properties like owners corporation fees, aren’t they excessive?
For most people fear simply holds them back from investing
Rich people have overcome these fears by gathering good information, acting on it and using real estate to further grow their wealth and provide income. So what if you could find a property to invest in that ticks all the boxes, would you go for it?
If the answer is yes, then we suggest you speak with one of our agents today as a two bedroom townhouse at Paperbark Place could be just the property you are looking for.
To find out more call Tony Smith on 0411 424 964 or email tonys@maxbrown.com.au
