Following on from my post about people finding Excuses to not invest, one of the other big reasons why people struggle to get started in property investment is their lack of knowledge or confidence. As I mentioned in that post, one thing that sets successful investors apart from the rest is the motivation to take action. So how do you take action if you don’t know where to start?
The best thing you can do is to build a team of advisors around you that will help you on your journey.
So, who should you find for your property A-Team?
Are you saving for your first home but have become priced out of the housing market?
If you rent in Sydney or Melbourne you might be thinking that you can never afford to purchase your own home. Prices in Australia’s biggest two cities have gone through the roof in the last few years and many first home buyers are struggling to get onto the property ladder. Until the market cools down and your wages or savings grow, Sydney and Melbourne could be out of reach for some time. So what option do you have to realise the great Australian dream of home ownership?
In my first few blog posts I wrote about three of the fundamentals of property investment – accessing your equity, leveraging your equity/savings, and compounding growth over the long term. All of this sounds great, but why would you consider using these principals and why should you invest in property?
The answer is simple – Investing in property can create long term wealth and building a portfolio of properties could help you achieve the ultimate goal of Financial Freedom.