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 74: How this investor plans to double his portfolio within 10 years
Episode 73: Bad builders: how this investor bounced back
Episode 72: Policy changes to interest-only loans: what buyers need to know
Episode 71: How this 'stubborn' investor recognised a property lemon
Episode 70: How this investor complements each property and balances his portfolio
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?
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