Property Investment in Australian Capital Cities
Finding the best investment advice is the first of many challenges to overcome before purchasing your investment property.
First time starters or an accomplished investors with a large portfolio, finding the right advice is crucial to the success of your investment future.
If you’re a novice, you should aim to obtain a wide range of advice from professionals to help you identify which investment properties or areas are safe and lucrative.
To ensure you receive the best advice, you must take a look at what level of advice you need, what is available, where to find it and how it can benefit you.
Property investment advisors aren’t regulated and, because of the competitive property market, are more likely to receive commissions from developers or property owners. This is a commonly known fact within the industry and can often present a conflict of interest when aiming to provide clients with objective property advice.
Property investment advisors should be independent in providing you with the right information to help you buy a suitable property. They should give you an in-depth explanation of the risks and benefits involved in buying different types of property.
Real estate agents
A real estate agent’s main aim is to sell a home for the best potential price as promptly as he or she can. Be wary when approaching real estate agents for advice about a suburb or a home – agents work primarily in the interests of the vendor (the seller) and may promote an area or property for more than it’s worth. Find out more at www.reiaustralia.com.au/consumer/choosing.asp
A good way to verify your facts and keep up with industry professionals is to educate yourself as if you were the advisor. Do this via the following:
• Free seminars are a great entry level step, although be very careful that no particular brands, companies or subscriptions are being forced upon you
• Industry magazines such as Your Investment Property and Your Mortgage provide a great stepping stone towards educating yourself because they’re independent
• The internet is also an essential tool in keeping you up to date with property trends.
Consider what education you already have and what you still require in order to be able to make investment decisions in the future.
Accumulating property and building a portfolio is the primary goal of most investors, but overnight success can take years. It is important to plan for the future and not get so caught up in the process that you could end up failing to act.
See also the 20 Key Points that we consider and research in our assessment.
Contact us for a free information pack, or to arrange an obligation free consultation.
Contact us on 1300 545 899 for a free information pack, or to arrange an obligation free consultation.