Series 1 of 7; Series 1:Understanding your current financial situation prior to investing in property: Part 1.
I believe you must engage a Buyers Agent with every property purchase, Using a Buyers Agents/Buyers Advocate and Property Advisor is key to more property investment success. These are extracts from my latest book “The Australia Property Investment Handbook 2018-2019” . In all good book stores now.
Your Current Situation:
With anything you do of importance in life, it is far better to understand what you need to do before you try and do it.
Without hope and goals we merely exist, there is nothing to strive for or look forward to. Having a goal gives direction and purpose in life, be it a small or big goal, short term or long term.
In terms of property investment, your main goal should be a monetary one, NOT ‘I want 10 properties in 10 years’. This is foolish, dumb, and it lacks a practical outcome. The reason for the goal can be anything, such as a legacy, dream holiday or comfortable retirement. In retirement, life comes down to survival and you need money for that.
A useful and considered outcome comes from determining your income requirement in retirement.
Retirement age can be open-ended; for some people it could be earlier in life than others. The younger someone starts investing, the more time for those assets to grow in value, and the more income potential will be derived from those assets in retirement.
With anything you do of importance in life, it is far better to understand what you need to do before you try and do it.
Without hope and goals we merely exist, there is nothing to strive for or look forward to. Having a goal gives direction and purpose in life, be it a small or big goal, short term or long term.
In terms of property investment, your main goal should be a monetary one, NOT ‘I want 10 properties in 10 years’. This is foolish, dumb, and it lacks a practical outcome. The reason for the goal can be anything, such as a legacy, dream holiday or comfortable retirement. In retirement, life comes down to survival and you need money for that.
A useful and considered outcome comes from determining your income requirement in retirement.
Retirement age can be open-ended; for some people it could be earlier in life than others. The younger someone starts investing, the more time for those assets to grow in value, and the more income potential will be derived from those assets in retirement………..
