“Chris, how do I begin my investment property wealth journey?” If I had a dollar for every time I was asked that question, well, you know how it goes…..!
So I thought I would give you a starting point that will hopefully set you on your way to wealth creation through property.
Working out your own investment strategy and personal risk profile will help you set sail on your journey. There are a number of factors to take into account when developing your strategy such as lifestyle, borrowing capacity, available funds and asset protection.
Think about the type of lifestyle you want, be realistic about your current borrowing capacity, consider what, if any, equity you have that could be used to purchase property and lastly, what is the best way for you to protect your property investment/s.
Buying to renovate, buying to rent, buying for long-term growth – there are so many different options out there that could be overwhelming if you don’t have a strategy. Developing your property investing strategy will determine the direction you will take with your property purchases and leave you in no doubt that you are making the right property decisions.
Do you have a Strategy?