property investment

Property investment requires education

It might sound obvious, but becoming a property investor is an entirely different experience to becoming a homeowner for the first time. It involves different priorities and a different decision making process.

Yet despite these differences, a surprising number of first-time property investors start their search for a suitable property relying on the same advice that they receive when they head into the property market as an aspiring first home buyer.

What’s even more concerning is that this advice often comes from well meaning, but totally ill-informed and unqualified friends and relatives, most of whom have never actually invested in the property market at all!

That’s why one of the most important first steps in starting your journey into property investment is to educate yourself. That means reading information from lots of various places, and not stopping until you’ve reached the point where you can tell the good advice from the rubbish…And if you think that getting this education could be expensive, it’s a lot less expensive than buying a property investment without it!

By doing your research, you’ll soon come to recognise which areas and properties are actually a good long term investment, and which properties and areas only look like a good opportunity at first glance…until you understand that the ‘exclusive offer’ you are seeing is only there because the property doesn’t stack up on its own merits.

Of course, one of the best ways to get an education on property investment is to have a small team of experts around you to show you the way. These might include a property-savvy accountant, someone with a good all-round knowledge of construction and building faults, and a well-connected buyer advocate who can source properties for you that may not be available to the general public.

So if you are about to take the first steps towards becoming a property investor, and you’d like some help in sourcing the right property investment in Victoria, we’d invite you to have a confidential chat with one of our Buyer Advocates by calling 9430 0000 today.