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Top tips for taking the property plunge

Investment property

Top tips for taking the property plunge

By Emma Ryan | 02 October 2019

A 32-year-old investor, who bought his first property at just 16, has shared his advice to others looking to make their mark in the world of real estate.

Tristan Angelini bought his first property at just 16 years old. Since then, he’s seen 15 properties come into his portfolio, ranging from residential and commercial to land.

Speaking on a recent episode of The Smart Property Investment Show, Mr Angelini shared how he managed to go about it, and the advice he’d have for other aspiring or current investors.

His top tips are:

Upskill

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For Mr Angelini, upskilling is essential for any investor looking to break into a market, particularly if the market is interstate.

“I submerge myself in that market… Submerge yourself in the data, in exactly what’s happening in that region,” he advised.

“I’ve purchased some regional Victorian property. Properties in Victoria, great value, great returns, but [it’s about] looking really at that passive income scenario.”

Be confident

Provided you’ve done all your homework, Mr Angelini said it’s important for investors to have confidence in what they’re trying to achieve in their property journey.

“Just take a risk. Just go for it. Stop twiddling your thumbs and just get into it. Don’t analyse it too much. Just get into it. Just get your hands dirty if you have to, and just have a crack.”

Utilise connections

For Mr Angelini, maintaining a professional network is essential.

“Having that system and that team around you is very important as well, because obviously, as things get bigger, you need to have more advice. You need to have a good strong team of lawyers and accountants to help you out along the way, too,” he said.

“I heavily rely on them and also my family members, who, my brother, hes very important in my organisation, a very organised person.

“Ive got very, very good business partners that I lean on as well, for their knowledge, and just mentors in general – people that have been in the industry for a while, I just pick their brains.”

Trust your gut

Investors should do the research necessary when considering buying property, but it’s also important to trust your instincts.

For Mr Angelini, this rings true, particularly when buying land.

“Find a good site that stacks up, because a lot of the times, youre buying off an agent who probably is just trying to sell you the block. Hes telling you can put two to three townhouses on there, and you cant do that,” he said.

Financially savvy

Making sure your finances are lined up is also important, according to Mr Angelini.

“Obviously, thats the most important one at the moment, making sure that youve got the cash in there. Not just the cash to buy the block, but the cash also to develop it as well.

“Because a lot of people obviously buy, they say, ‘Ive got 20 per cent deposit. I can buy it, no problems. Ill just go get the construction finance’.

“It doesnt work like that. Youve got to put more money in.”

Feasibility study

Making sure you do a feasibility study is equally important, Mr Angelini said.

“Thats obviously probably the most important one before you even start, to make sure youve got your figures right,” he said.

“Get your right consultants on board to make sure that you can put on there what your vision is and obviously you can build what you want there, and then consult with maybe someone in construction, that you can build it for that price, and make sure that you can actually make money on it or not lose on it.”

RELATED TERMS

Property

Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.

Real estate

Real estate is a type of real property that refers to any land and its permanent improvement or structures that come with it, whether natural or man-made.

About the author

Emma Ryan

Emma Ryan

Emma Ryan is the deputy head of content at Momentum Media.

Emma has worked for Momentum Media since 2015, and has since been responsible for breaking some of the biggest stories in corporate Australia, including across the legal, mortgages, real estate and wealth industries. In addition, Emma has launched several additional sub-brands and events, driven by a passion to deliver quality and timely content to audiences through multiple platforms.

Email Emma on: [email protected]Read more



Top tips for taking the property plunge
Investment property
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