When it comes to investing in property there are three types of investors. Those already investing in real estate. Those who are going to invest in the next few years. And those who are never going to invest in real estate. It’s very easy to identify the first group, those that have already invested because they have one, two or more investment properties and they are well on their way to establishing a strong financial future. The next easiest group to identify is those who will never invest in real estate because this group is also fairly straightforward.
The middle group, those who are planning on investing in real estate, is a tricky one because it’s difficult to truly identify someone in this group. If you’re in the middle group, then you’re also currently in the bottom group, those that are never going to invest in real estate. So how do you identify someone in the middle group that sets them apart from the bottom group?
The criteria to become a member of the middle group, where you plan on investing in real estate in the future includes:
- A desire to become a property investor.
- A realistic plan to invest in real estate that is manageable and within your budget.
- You have a plan that has a start date that you are committed to and working towards.
Without taking these steps, from our experience you are going to be lost or stuck in the bottom group for a very long time.
The pathway to investing is a straightforward one, however like any straightforward pathway and for any number of reasons it can be incredibly difficult to stay on path. It’s part of the human condition that when we start something new, that’s unfamiliar, rather than stay on the path, what often happens is we zig and we zag up and down across the path.
If you think about anything that you’ve ever set out to do in life, there is always an element of zigging and zagging especially at the start or when you hit a challenge or problem. And it’s your ability to find a way through, to smooth out your zigs and zags that turns you from a beginner to an intermediate and ultimately, if you keep going over a number of years, to becoming an expert – once you’ve mastered your ability to maintain your desire, stay on path, stick with the plan (that can change over time) and achieve your ultimate success.
Rentvesting: The Latest Investment Strategy For Young Investors – Entering the Property Market Via the Backdoor
Due to high housing affordability levels, the current generation of new home buyers is finding it increasingly challenging to purchase property where they wish to live. So a new trend has emerged to get a foot hold into the property market – by buying an investment property in an area where you can afford while continuing to rent in the area you wish to live. This relatively new strategy is called – rentvesting. Continue reading…
High Sydney House Prices Are Pushing Up Prices In Regional New South Wales
Basic economics dictates that demand and supply is affected by price and as Sydney’s median house price tag hovers around $1.17 million, it stands to reason that many Sydneysiders are looking to go further and further afield into country New South Wales to find a home or investment property that’s more affordable. Continue reading…
Bigger Is Better For Affluent Buyers In Sydney’s West
It stands to reason that given Sydney’s traditional affluent Double Bay-like suburbs median price have now hit more than $3 million, some cashed up buyers are choosing to head out into Sydney’s West for more space and extra features.
As housing price growth outpaces wages growth, high income earning professionals are weighing up the opportunity of the extra space and privacy and the ability to put their own personal stamp by building their dream home out west. Continue reading…
Higher Than Average Returns Tipped For Batemans Bay’s Shire On The NSW South Coast, Predicts New Report.
The latest Residex Predictions Report has identified the Batemans Bay area, postcode 2563, suggesting it will be the third best area for property growth across Australia. The report predicts a growth rate of between 5.1 and 8.29 per cent over the next eight years as more and more Sydneysiders look further afield for an affordable sea change.
Across the Shire, house prices rose 13.4 percent in the 12 months to June with the median house price increasing to $445,000 up from $392,250 in June 2016. Continue reading…
Why Is The Real Estate Investing Path Difficult At Times?
The short answer is often life gets in the way! Plus, it’s very rare to make all the right moves first time out, hence the zig zag effect. And when you think about it, life would get boring, very quickly if everything meaningful you set out to achieve in life, was done quickly and simply.
It sounds nice in theory and there are times when faced with your biggest challenges, that you may wish things to be simpler!
But if it was that easy, then it wouldn’t be nearly as satisfying as becoming the person who overcame their challenges as a successful property investor. Plus, as a BONUS, you also get to keep the property that you’ve just invest in, which will help to secure your financial future!
All the best on your investing journey.
CEO – Plan Assist Property Team