Hi, I have been reading through your discussions and was compelled to join in as I see there is a lot of knowledge amongst you all. I bought my 1st home in mid 2001 and have accumulated a bit of equity and impatients to buy an investment property. I have started to look at the web and read a few books about property investment and I am a little overwhelmed with it all. I need to find out what my first step should be. I perhaps have in mind: a financial planner, my mortgatge broker, or a property planners organisation. I am a little concerned about the property planners services as I am not totally convinced they can provide total non-bias referrals and support. One has even promised it to be a free service, whereby they research the area, potential returns, assist with purchase, etc.
Could annyone out there please help me by advising what my first step might be, and if you have had experience with a property planner/investment service, and what I should be aware of with them.
Regards,
DottieHi Dottie,
I would suggest the following steps:
1. Decide to be an investor
2. Determine what you want to achieve by investing in property
3. Choose an area that you would like to invest in
4. Start small and look at the deals
5. Continue to invest in your education
6. Build relationships with your accountant (find one who also invests in property), loans manager.
7. Find an agent that understands property investment and what you are wanting to findGood luck.
Cheers,
StephenHi Dottie,
Just a couple of other things to look at as well is:
1) What do you want to achieve from property investing(financial freedom,income)
2) How soon do you want to get to your goal??what is your goal???
3)Set out 1,3,6,12 month goals
4)What time type of property investing would you like to do??(buy & hold,wraps,flips,buy-renov-sell)
Hope this helps
PaulPaul
“You can change your tomorrow,if you seek your dream today.
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