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Tips for First Time Real Estate Investors

18 May 2012 Stuart Zullo 0 Comment

People who haven’t invested in real estate often think that it’s too expensive for them to do, or that the process is complicated and beyond their comprehension.

I’m here to tell you that these misconceptions may be costing you money – in the way that you could be making money with real estate investments.

If you’ve bought a property, you know the process and you’ve got a good idea of the search and buy process. What you want to be looking for in an investment though may differ from what you’d buy if you were purchasing a home for yourself and your family.

A few things to ensure you research properly before you start:

1)      Location – does it have a high rental population? Is there a good demand for rental properties? And what sort of tenants does the area attract?

2)      Finance – what can you afford to borrow, what will your repayments be and what will the rent cover?

3)      Insurances – what kinds of insurances do you need? Building, Landlord, Public Liability etc?

4)      Risk – what are the risks of the transaction?

5)      Property – find out all you can on the property you intend to buy. Have you compared similar properties in the area?

6)      Flipping Property – what do you intend to spend money and time wise on the property before you re-sell? Are you doing it yourself or getting a professional to do the work? Is it going to be the right kind of real estate investment for you?

7)      Planning – when do you plan to sell the property? And what returns are you expecting in that time frame? Is it practical/possible/probable that you’ll achieve your goals in the predicted market?

Sometimes the best thing to do is talk to people that you know about their experiences in real estate investing. It’s not for everyone, but it has its rewards for those that do it right. Let us know if you’d like to chat about opportunities in Casula and surrounds, we’re happy to suggest good investment opportunities as they come up.

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