5 key tips for creating wealth through Property Investing

I wanted to share with you my 5 tips for creating wealth safely and predictably through Property investing.

These are my golden rules for property investing and I am confident that adhering to these will give you the best chance to achieve true financial success through your property investing.

Tip No 1:

As the saying goes, if you aim at nothing you'll hit it every time! Have a strategy and know what you're aiming for. You should know and be clear on the following:

- How much passive income do you want from your property portfolio?

- How many properties do you need in order to achieve your desired passive income?

- How much time do you have to achieve the desired level of properties?

Tip No 2:

Once you know how much passive income you want and how many properties you will need, you need to know how much money the bank is willing to lend you. This is known as your borrowing capacity.

Know your borrowing capacity at all times as opportunities tend to come up when you least expect it and being prepared will help you jump onto such opportunities. Taking action is the key to financial success!

Tip No 3:

The best coach is the guy that has walked in your shoes before. Surround yourself around advisors that walk the talk and that are actively playing the same game as you. No point taking advice from a theorist! Build your "dream team" and never compromise. Surround yourself with the best Accountant, Solicitor, and Finance Strategist as part of your dream team to ensure you achieve your set goals and aspirations in the most efficient and effective way possible.

Tip No 4:

Treat your property investing like a business, and not a hobby. If you are serious about creating wealth through property, then make sure that you know at all times your cash flow position, prepare a cash flow analysis so that you know which rents are due and when and what expenses are due and when. Cash flow is the life blood of any business and your property business should be no exception. Stay on top of your bookkeeping, pay your bills on time, hire and fire property managers to ensure you achieve the best return on your investment, and so on.

Tip No 5:

Buy with your head and not with your heart. Most people I come across will buy an investment property in the suburb they live in, just because they like where they live. Depending on where you live, this may or may not be the best strategy for you. Your home is your castle and your lifestyle preferences should not be confused with what makes a sound investment. For example, if your borrowing capacity enables you to buy 3 investment properties, then your priority should be to buy and hold the very best 3 investment properties that you can get your hands on to achieve true wealth through your property investments.

I hope you find these tips value adding for your property investing and if we can assist you in any way, please feel free to contact us for a confidential chat.

Important information: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. For this reason, any individual should, before acting, consider the appropriateness of the information, having regard to the individual’s objectives, financial situation and needs and, if necessary, seek appropriate professional advice.

Subscribe to our insights:                                  
Contact Form Demo
Helping ambitious people buy the right property on the right terms. Mario Borg's strategic approach to property delivers exceptional outcomes, every time.
Sign up to insights
Contact Form Demo
Copyright © 2023 Mario Borg Buyer's Agents
crossmenu