Here at Rosie and Rosie we’re all about helping you invest with confidence. In this post we’ll teach you three things to give you that confidence.
Here at Rosie and Rosie we're all about helping you invest with confidence. We have a four step actionable plan that helps you get through the investing process in a logical and proven way.
If you've been reading the blog or listening to the podcast you'll know we've been slinging tips on - among other things - how you can get the most out of your investment, how to avoid bad tenants, and how to sell your property for top dollar.
So if you're someone who's already started investing you've got plenty of material to go through.
But what if you're someone who is only starting to think about investing? Understanding the difference between managing your own property vs getting a property manager isn't going to help you - yet.
So today we're going right back to the very beginning with 3 obvious things you should know before you begin your investment journey.
The first thing your ought to consider before getting into the property market is to think about what you want to get out of this.
Do you want to be a property mogul? Are you looking for extra income? Are you trying to create a nest egg for your kids? Is this a business or hobby for you?
Knowing what you want to get out of investing will help you know where and what to invest in.
Before you even think about areas, work out your budget, or approach agents you need to know exactly what you're getting into.
Property investment is an exciting, rewarding way to earn an income.
But it can also be challenging and stressful.
Like any investing, property carries risk. Some of these can be managed, but some of them you're going to have little power or influence over.
Where Governments decide to build infrastructure for example, or maybe Council rezoning will affect your property. These are things that you'll likely have little control over.
Other things, like property maintenance, are within your control but require effort or money on your part to take care of.
Property investment isn't a cake walk; it is hard rewarding work with a potentially big pay off.
When investing in property you're going to be spending large sums of money, yours and others.
So you need to know exactly how much you're willing to put into the market.
Because if you haven't figured that out, you're either going to miss out on opportunities or get involved in investments you'll later regret.
To do this you should look at your finances, consult experts (like us!) and talk to your friends and family.
Take into account your age as well, the younger you are the more time you have to fix any mistakes you make.
We want people to approach investing with confidence, because with confidence comes success.
So now you're thinking about these 3 obvious things, you're ready to begin your investment journey.
Get in touch, and together we'll go through our 4 step investing process with you to give you the confidence for investment success.