If you’re looking at property investing, this could be a great way to increase your personal wealth. It’s a great time to invest in Australia real estate. Locals are doing it and so are people that live abroad.
Why invest in real estate rather than something else? Real estate investing gives you something tangible. Unlike investing in stocks or bonds, you’ve actually got property in your hands. It can make you money while you hold onto it waiting for it to be worth more and it could, if you’re investing in vacation properties, bring you joy as well (because you may rent it out most of the year and enjoy it a few weeks a year yourself, while receiving a steady stream of income). Read on for some helpful info, tips, and useful resources for people new to real estate investing.
There are a lot of investment opportunities in real estate.
- Residential real estate for the purposes of rental income,
- Buying distressed properties or bank foreclosures with the intent of fixing it up and flipping it for a profit,
- Commercial properties ,
- Vacation properties,
- Investing in new developments,
You’ll find a wealth of information out there in the form of books, websites, clubs, and personal coaching from real estate and financial advisors.
Warning: Avoid Real Estate Scams
There are real estate scams to beware of. Do your due diligence before investing in anything. Here are two helpful articles:
Beyond reading books, the internet can be your friend. Subscribe to investing blogs. You’ll find a lot of them that can help you assimilate information. Beware, though, the internet can be your foe as well. Many websites are self-serving in providing information that leads you to make a purchase with that site. Anotehr great resource is the Australian Property Investor Magazine. Check it out at http://www.apimagazine.com.au/.
Tip: If you’re looking at real estate investment clubs, do your due diligence before joining.
Additional Real Estate Investing Tips:
- Don’t be anxious or you’ll get easily frustrated. Real estate investing can be very profitable but it’s often something that requires a bit of patience. If you need to turn money around very quickly, it might not be the best option for you.
- Diversify, wherever possible. Don’t put all your eggs into one real estate basket in terms of property type and property area.
- Consider giving yourself a mandatory cooling off period before you sign something. And always get more than one opinion before signing on the dotted line.
- Subscribe to Real Estate Colum. We do our best to regularly supply useful information to buyers and sellers related to property investing and Australian real estate in general.