How to Become a Savvier Property Investor
By Bradley Beer on 21 May 2014
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Property investing success requires groundwork before purchasing your first investment property.
Here are some top tips to help you become a savvy investor:
1. Plan to Succeed
Consider the following: What do you want to buy? Where do you want to buy it? What are your property investing goals?
2. Are You in it for the Short-Term or Long-Term?
Defining whether you are after long-term benefits or a short-term cash flow can help decide where you invest and the type of property you buy.
3. Follow the Lead of Seasoned Investors
You need the strength to ride out the ebbs and flows of the property market.
4. Ignore the Quest for Perfection
The right time to buy an investment property is when you’re prepared and ready.
5. Order a Tax Depreciation Schedule
To make the most of your property returns, organise a comprehensive 40-year Depreciation Schedule compiled by a Quantity Surveyor. A BMT Depreciation Schedule will maximise the cash return on investment properties.
