podcast

3 biggest mistakes investors make when buying a property

By Staff Reporter
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Martin Rambow, Tradebusters Academy Expert & Finance for Life

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One of the first mistakes they make is that they don't have their financial accounts up to date. A lot of investors these days are self employed and they don't realise the importance of having all your financial accounts up to date. That's one. A second one is they're not thinking about the end in mind. It's very important when you're buying an investment property that you think about the term and how long you want to keep that property for and what you're expecting from it with the end in mind. So you then need someone to work through those financial account with you. And thirdly, location I think is probably one of the biggest issues for people. They end up buying things that are off main transport hubs because of the price and at the end of the day it reduces the return.

Listen to other instalments of The Smart Property Investment Show:
Episode 70: SPI special episode: buyer’s agent answers more listener questions
Episode 69: Are you a ‘lazy’ investor? Consider the benefits to working with a financial team
Episode 68: Special episode: audience discussion live from the Property Buyer Expo
Episode 67: Don’t get ‘caught up in the now’: an expert reveals his tips for success
Episode 66: Wealth distribution: how should you manage your money?
Episode 65: Real estate agents: what separates the good from the bad?
Episode 64: How this investor learned from a property blunder
Episode 63: Q&A session: the SPI team answers your questions
Episode 62: Property procrastination: the importance of finding help
Episode 61: The ins and outs of strata: what buyers should consider
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