Isn’t that the dream – to be financially secure enough to retire when you want to.
Well it is possible. And with a few key elements, you will be well on your way.
Define your goals and develop your strategy
First off, you need to identify where you’re at and what you want to achieve.
You also need to determine your appetite for risk, what you can afford and how much time you can put towards finding the right type of properties.
If you can define your criteria and evaluate your situation, your strategy will start taking shape.
Research, research, research
Any big decision starts with research.
When you buy a new TV or washing machine, you do your research to find out which is the best one on the market, for the best value and that suits your needs.
Property investing is no different.
You need to utilise the resources around you to source properties that meet your criteria.
This could be anything from real estate websites, local agents, RP Data, a buyer’s agent or local council information.
You need to identify the locations you want to invest in, whether it be emerging markets, areas with increased employment or regions with low vacancy rates.
Get your finance in order
If you’ve already secured your first property, you will be able to leverage off this equity to fund your next purchase.
By refinancing your property you will gain the deposit needed for your second investment property.
But you need to ensure you understand the specifics of the loan, repayments and the interest rate, and ensure these fit with your strategy.
Instead of sticking with one bank or finance company, you should choose the most suitable lender for the specific property you’re purchasing.
If you can apply these elements to your situation you’ll be well on your way to property investment success with enough equity to retire when you want to.
And if you want some help defining your strategies and finding the properties that match it, get in touch.
Simply call 1800 600 890 or email admin@wefindhouses to book in a complimentary consultation.