Many first-time investors may think they understand real estate because they’ve lived in or rented a home or an apartment. This isn’t always true and probably one of the reasons around fifty percent of first-time investors sell up within five years. While they may know their local neighbourhood, that’s very different from understanding the property market.
A property investment advisor will get you off the right foot from the start for building your investment property portfolio. By having an expert examining your finances from the outside-in, you will avoid the common mistakes that investors may fall victim to. You may also not have the time dedicated to researching the property market, which an advisor can aid you with. Also, it is invaluable to have someone in the field to address any questions and concerns.
A good advisor will make sure they understand your individual circumstances and your needs and goals before anything else so they can find the best investment property that’s right for you. This might be to:
• Build a property portfolio for your retirement
Just as you need a life plan for your other financial needs, you also need a carefully planned strategy for investing in property. A property investment advisor will assist with the following key areas:
Risk Identification and Management:
Although property is considered lower risk, there are still many risks, especially with long-term off-the-plan property. All risks can essentially be avoided or minimised with the right strategy and your property investment advisor should help you plan for all eventualities.
Property Market Research:
Research is key for any property investor. You need to look at broad market trends in cities and suburbs and then look at particular types of properties. A property investment advisor will help you to get an understanding of the level of supply and demand in the areas you are interested in buying in.
Keeping You On Track:
A property investment advisor can analyse the performance of your property portfolio then together with the rest of your team they can tell you when you are ready to purchase more properties and can make sure your portfolio is doing what you wanted it to. A property investment advisor will give you advice around which markets and properties to invest in which is crucial.
Structuring Finances/Cash Flow Management and Planning:
Retirement Planning:
A good advisor will be able to plan with you right from the start, with the end in mind. They will work with you on how you can use your properties most effectively to fund your retirement and give you the cashflow that you need to stop working. Having a strong understanding of how much property you need in addition to other assets for when you want to fully or semi-retire will help you calculate what you need to save, or can spend on a better lifestyle in the meantime.
Tax Planning:
If property investment seems too complicated, or you’re busy and just don’t have the time, a property advisor can simplify the process and remove the anxiety.
Property advisors also have good relationships with other professional services that need to be engaged for property transactions – including accountants, financial planners, mortgage brokers, property managers, quantity surveyors and solicitors – so you don’t have to do all of this yourself.
You don’t have to work with a property advisor, but buying and managing an investment property without help takes a lot of time and research. With buying property being such a big financial commitment, talking to the experts could help you to get the most out of your investment and avoid making costly mistakes.
We can help!
If you are considering purchasing an investment property, now is the time to buy. Why? Because loan interest rates are still low—less than 2%. When the interest rates begin to climb, it will cost you tens of thousands if not hundreds of thousands of dollars more. When purchasing a property, it’s important to have someone with the knowledge you need to make the right decision. That’s where we can help!
Ready to start creating passive income with property? Think you’re ready to invest in one or more properties?
We can help! At OneCorp, we walk you through every step of the process at NO cost to you. We create a personalized property strategy and help you find the best opportunities on the market, so you know you’re getting the best return.
Getting started on your investment property journey has never been easier:
- We start by helping you set clear goals and objectives as to what you want to achieve through property investment.
- From there, we run the numbers through proprietary software to accurately assess exactly what you need out of a property portfolio to achieve those goals.
- Lastly, we find the perfect property to make those objectives a reality!
