Posts

Showing posts from August, 2016

FIVE MISTAKES TO AVOID WHEN INVESTING IN PROPERTY

Image
1.Not doing your research


When purchasing an investment property, it’s important to do your research about the location, local amenities, rental yields, vacancy rates and the property itself. While it may not always be possible, you should aim to know as much as you can about the neighbourhood you intend to invest in. Be wary of ‘booming markets’ such as mining towns and tourism centres. These may produce excellent returns over the short term, but how will the investment stack up long term if there is an industry downturn? Remember, a good investment is not one based on speculation.


2.Not having a professional property management team in place


Many people assume property management is simple and think they can do it all when it comes to taking care of every aspect when managing their property. This can quickly become a stressful and tedious task, not to mention the ever increasing legislative requirements that fall upon landlords – it might even start to feel like another job! A profess…