Hi I’m a longtime reader of the forum. First time poster. I’m looking for a mentor on the Sunshine Coast. Someone to bounce ideas off and share experiences. I’m looking to make my first investment, and some experience in my corner would be a big help. PM me.
Thanks everyone
Hi U & C
Welcome to the forum and good to have you make a comment or two at last.
In my business i seem to spend more and more time mentoring clients who are wanting to build a property portfolio but i have to say it is never a matter of the advice for one being the same for another.
Half the battle for any property investment adviser is trying to ascertain not only the intended goals of his client but how realistic these goals may be. to being achieved.
When i work with a client we always try and work backwards to see what the end goal is and then see what steps need to be taken to achieve them.
There is no point in setting a goal of wanting to buy an investment property every 6 months if you don't have equity or cash to keep coming up with deposits.
The other mistake many clients make is they think they should buy in their immediate area.
They might live in an area where the median price if $500,000 and assume that their first rental property should be for $600K.
When in fact they could have diversified their risk and purchased 3 properties at $200K each.
Remember you cannot live of capital growth but you can live of rental income so before you rush in engage a professional who is able to advise on all aspects of property investing.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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