14 Oct 2009Blog

3 tips to become a successful property investor

by m

Having dealt with various real estate investors and completing my own research, the following seem to be pretty good principles to adhere to when thinking about becoming a property investor:
  1. Investing in real estate is usually a long term strategy because the property market tends to have its highs and lows and therefore results are not necessarily achieved in the short term.  It is important that you plan your financials prior to investing to ensure you have a steady cash flow for mortgage payments.
  2. Before you make any decisions on your property investment, you should speak to a professional in the industry and seek their advice on strategies that will help you manage your investment so that you can maintain repayments within your budget.
  3. When choosing a property to invest in, you should always look at what the increased value will be in the future.  It is important for new property investors to choose a property based on its investment attributes rather than on how much they like it.