Investing In Rental Property - one of the best kept secrets for building wealth for your retirement!
Investing in rental property - there are 6 faithful servants of investment property to profit and in essence they are:
1) Why should I...
2) When should I...
3) Where should I...
4) What should I...
5) Who should I...
6) How should I...
While many of us are certainly realising the pressing reasons of why we need to invest, it's unfortunate that too many will find out the dire consequences too late or not at all. If you've read the first down load of my book, it explains in very plain English why,
*Anybody relying on the pension are guaranteed to a future of absolute mediocrity and similarly,
*The huge inadequacies of many superannuation policies will force a life of absolute mediocrity also.
Don't go past this and think your super will save you. Discover why it won't and give yourself the knowledge to make an informed choice.
So with the government pension and government superannuation forecast to be totally inadequate, your third option is to invest
...and investing in rental property is an ideal retirement investment. Paradoxically it should be remembered also that the largest demographic that needs to be catered for is the baby boomers and their ideal retirement investment just could be your
The question of when is the right time?
The right time to be investing in rental property is always a reason for debate any time you have two or more people together. From my investing experience the right time is now or as soon as you can possibly afford to do so.
Because not matter if you think the market is at its peak where you are, there will be somewhere in Australia that you could be investing in rental property. Since the early 1990's the on-going surge in baby boomer numbers have seen Australia experience a tree change and a sea change.
Now the tree change for some is a back to basics hobby farm country and for others it is prime
real estate golf property
or similar niche.
The perennial favorite with most Australians however with the majority living at or close to the eastern seaboard is that of the ocean front or on the water.
For many that means they want be near or at least be able to see water so there is also a constant demand for
beach front property.
As to the question of where should I buy?
At the time of writing many of the eastern States markets of Australia are on the rise again and the property market of Perth in the West has already seen great increases in prices.
Should one therefore shy away from the Perth market. I think not. The bottom line for property prices is always supply and demand and the mining industry is drawing record numbers of people into the Western Australian market.
Those workers will always need a roof over their head whether they own it or rent it.
Check out property for sale Perth Australia where you’ll find a group of property agents that are heavily entrenched into the Perth market and are more than up-beat about the onward and upward prices. And yes Perth has been going through a rebirth of development so you’ll find many prime properties’s to choose from.
As to what should you buy when investing in rental property?
This gets down to all the reasons that I explain in Position Position Position section of my book. There is no one hard and fast rule.
For example, I have a single bed in Sydney that is in absolute demand for the area full of upwardly mobil 30 something’s. However, I have a 3 bed townhouse in a family orientated area that would be hard pressed to be considered for rent by the ‘single’ demographic market.
The best thing to do if you are new or unsure of anything when investing in rental property is to simply get advice. A second or even third opinion is a very cheap option.
Now this is not to suggest that you get it from your cousin Geoff, unless of course he has a history of making good property investments and more to the point he is actually an investor himself.
You must find out that answers to 6 faithful servants of investment property and they are questions of what, why, when, where, who, and how of property investment.
As to where and for that matter who you get property investment advice from?
I would suggest that you get a recommendation from someone that has used the services available or who can answer the questions that you now know to ask. If you need a 2nd opinion from someone that knows their market you can ask Kevin for some real estate investment advice as he (being passionate about what he does), would be only too happy to offer his services.
As to how you go about Investing in rental property?
My guarantee is that if you really want to then you will find a way. Never let this be your excuse. There is always an answer to how.
And there are more than enough resources and knowledge on this web site for you to make the necessary inroads to building wealth with property.
However, should you need to ask a question that you have not been able to find the answer for yet you can always
and I will endeavor to help you further where I can.
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