Being financially ready for when the unexpected occurs

26 MAR 2018 By Todd Stevens 9 min read Investor Strategy

A financial buffer is one of the best decisions that you can make as a property owner to avoid any unnecessary headaches. Or at least that seems to be what has worked for property investor Andrew Scott.

In this episode, Smart Property Investment’s Phil Tarrant sits down with Andy, who shares one of those potential headache scenarios from his time investing. When a bill that should have been around $800 ended up costing more than six times that amount, Andy was able to effectively manage both his funds and stress levels, sharing now how his prior planning made that a possibility.

Andy shares what he sets aside for each of his three properties as a way of minimising risk, and just how and when that money should be spent.

The pair will also cover the benefits and challenges of investing interstate, whether property yield should be a main deciding factor when purchasing a property, and answer some questions for those looking at using a property buyer.

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