by Sanjeev Sah | Mar 26, 2024 | Market Updates
To start your journey as a property investor, consider these four questions:
- What is your end goal? Effective property investors have a clearly defined strategy that helps them envision their goals and desired outcomes.
- How well do you know the property market? Prioritise thorough research as step one of your investment journey. Speaking to an expert like a buyer’s agent will help you better understand the market.
- What is your risk tolerance? Knowing how much risk you can take, both mentally and financially, will help narrow your focus on properties that suit your desired outcomes.
- Is your investment filling a gap? The rental market is currently very tight, with a lack of supply of homes for tenants. Many property investors are helping fill the gap. But, to ensure long-term growth, it is important that, before you buy, you look carefully at what is in demand in the area. Consider the type of property you are investing in, the location and the projections of the rental market in that area.