Hope Is Not A Strategy In Property Investment
Wow, that is a strong statement isn’t it, because I am sure many investors go into their first investment with ‘hope’ in their mind. In all honesty that may be the case for all of us starting something new, but when setting out to tackle the first investment a property investor should have done all their research on:
- what to buy
- where to buy
- how to buy
- why to buy
- how they are going to gain from buying (the tax refunds etc) and write backs (see a Quantity Surveyor)
When outlaying money and when borrowing for an investment property it is not a situation of taking a lot of risks but calculating risks and making informed decisions.
There is some indication that interst rates may stay the same for some time now and any increases in the future should only be minimal so this will give investors a more realistic picture of their overheads costs on an investment property.
If a property wishes to have tax gains from investing in real estate this year then a contract needs to be signed on or before 30th June as it is the contract date that is the date for the sale of the property.
Filed Under: Property Investment Tips
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