You need to start educating yourself in five key areas.
First, learn more and more about property itself. In particular, get an understanding of different property types and their construction; learn what can go wrong with them and how it can be put right. This is important if you are going to buy ‘tired properties’ in need of renovation and then add value by doing building work, as you’ll need to know your costs, how to organise tradesman and oversee the work.
Second, start to see through the eyes of both property investor and prospective tenant. The best way to do this is to continually inspect all types of different properties, even when you are not in the market to buy them.
This will build up your assessment skills, especially if you always try to see each property, not as a piece of real estate, but a place where people live, sleep and eat. Do that, and you’ll get better at judging why one apartment or house will work better than another, and be more popular with tenants and easier to let at a premium rent.
Go to this website to view our FREE advanced property investment video series,
this will get you on the right path for financial freedom:
www.ultimatepropertyguide.com.au