Property investment is perceived as a quick and sure-fire route to financial growth, however it usually is not that simple. The difference in property investment compared to any other investing strategy is that many people know friends or family who have made some money with their investments and think they can do it just as easily as well.
People are wary of investing in stocks and bonds, so why do they enter into property so easily? The simplest answer may be that it appears straightforward, almost natural. Most people have aspirations of owning their own homes, so once they are comfortable in a place of their own they feel invigorated to buy another. However, this awareness and comfort with the process is not all that is needed to become a successful property investor.
So what exactly is needed? How do some people make it big, whereas others only see an increase in size of the amount of their debt?
Property investing: How the pros do it
Successful investors recognise that making a lot of money is not an overnight process. Investments take time, patience and a lot of research. Many potential investors, or those who have not made half the fortune they anticipated, will claim that they did their research and were patient. The latter may be true, but what research did they actually undertake?
Researching the property market, climate and investment potential is much greater endeavour than a quick online search. It requires a deep analysis of national and global markets, conversations with property strategists and comfort in taking risks.
Property investing is a team sport
There are many pseudo-property experts online, on the radio and in the news, and it is becoming increasingly difficult to sift through all of the information to find reputable sources.
In the need for transparency, buyer advocates, also knows as buyers agents, have taken rise to assist investors to take a lead in the property game. Buyer’s advocates are the specialists and strategists that are trained in all things property to make sure investors are aware of changes in the property climate and are provided with the best options to increase their portfolios. Their presence is intimidating to real estate agents as they know their usual strategies will fall short and negotiations with buyers advocates will often leave in the investors favour.
The unbiased nature of buyer advocates facilitates an even playing field for the investor. Professional advocates charge a one off fee, therefore relieving any concern that an increase on a property purchase price may result in larger profits for them. They are skilled at finding properties that others overlook and assessing their true potential.
Full service firms also offer professional property development managers who assist an investor after land or property acquisition. Property development managers offer a range of services to help their investors to capitalise on their purchases through organising subdivision plans, building contracts and appropriate approvals.
Successful property investors recognise the importance of a team of professionals with the relevant knowledge to grow their wealth without day-to-day commitment.
Wise Realestate Advice is a full-service property firm with trained and accredited buyer advocates and property development managers. For an obligation-free conversation, contact 1300 009 473 to discuss how their services can turn your goals into property success.