Hi
I am new to the property investing industry but am very keen to dive in straight away all my friends are telling me to invest in south frankston. can anyone out there tell me if that is correct and why. mainly looking for capital gains.
Welcome to the forum, and investing for capital gains has made many investors wealthy.
But “diving in right away” has made many investors regret their decisons.
The best way to assess how an area will perfrom in the future with regards to capital gains, is to look at its past track record, and the longer back you look, the more accurate the prediction of the future growth.
Another way you can achieve capital growth is to buy below market price (by doing your rerearch) and by adding value such as through renovations etc.
If you are new to investing:-
1. gain some knowledge such as by reading books. Many have been recomended in other posts, but I ma going to give a blatant plug for my new book, which was just released – How to Grow a Multi Million Dollar Property Portfolio – in your spare time– details here http://www.propertyupdate.com.au/pages/Book
2. Go to some seminars – but be careful who you listen to!
3. hang around positive people who have achieved what you are trying to and learn from them- you will find some smart people on this forum.
The property cycle is moving on, but there is no need to rush into your investment decision.
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 11,000 readers each month.
FREE subscription http://www.PropertyUpdate.com.au
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