Make sure you’re continually looking at economic, business and social indicators, both national and local, so that you’re always in touch with the market and what prices are doing. This doesn’t mean you have to become an expert on each, just read the informed property press or speak to one of our qualified wealth coaches and they’ll point you in the right direction.
But don’t think you can only invest when conditions are perfect to buy. You can buy at any time, even near or at the top of the market, when prices are at their peak. Of course, you won’t ever want to pay over the odds for any property, but if you find a property to which you can add real extra value, then it could be worth paying a premium price. You can do this by renovating or refurbishing a run- down property, though as the market heats up even the most beaten up properties can be expensive. Or you can do even more work by adding bedrooms, bathrooms and additional space, changing a property significantly from its original state and making it more valuable.
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