Many people share an interest in creating wealth through property investing but simply don’t know where to start.
It’s interesting that 3 out of 4 investment properties fail in terms of performance and let’s be honest if you buy an investment property you want to make money out of it. So many of us simply gamble and buy in an area we think will go up in value. The most common area that people buy in are around where they live. This is because that is what is comfortable or their friend, bus driver, taxi driver or friend at the pub has told them, that is the best area to buy in. But really, how do you or any of these people really know where the next best area is.
It’s interesting that 3 out of 4 investment properties fail in terms of performance and let’s be honest if you buy an investment property you want to make money out of it. So many of us simply gamble and buy in an area we think will go up in value. The most common area that people buy in are around where they live. This is because that is what is comfortable or their friend, bus driver, taxi driver or friend at the pub has told them, that is the best area to buy in. But really, how do you or any of these people really know where the next best area is.
Research, research, research. I know sounds boring … it’s not sexy.. but hey … you’d have to admit … it does make sense that if you want to stack the odds in your favour it’s best to buy in an area that’s backed up with sound economic drivers to increases your chances of a fast growing investment property.
Is it a guarantee of success? Of course not … and if anyone tells you that … RUN… but… I’d rather buy in an area where the research supports it, giving myself a better chance of a positive outcome than throwing a dart at an Australian map and buying there with hope.
If you are interested in buying an investment property I welcome your call on 0425 758 938 or email at Richard@cp-finance.com.au to discuss the best options for you.
