Now is the time to buy investment properties, interest rates are still at their lowest ever and many properties are can be cash flow positive. This has been the message for many months now and certainly the current market conditions are bringing first time investors into the property arena.
Here are Metro Property Management Tips to consider:
Always ensure that you take sound advice prior to making the
investment decision
Know your numbers – what is the impact going to be if you purchase an investment property - on your income
Attend seminars/workshops before making any decision
Ensure that you work with financial advisors and/or accountants to a develop wealth building strategy
Purchase median properties that are in high growth areas, they must be easy to rent
The area must have good infrastructure like schools, parks, shopping centres
Understand how you can leverage off existing investments to add to your wealth creation
The goal is to hold onto your investments long term, however be prepared that they may be times you may have to sell
Get an understanding on the level of debt you are in or prepared to go into and what a safe or comfortable level is across your portfolio
Research but don’t delay, now is the time to take action
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