2010 is fast approaching, and we have already helped a number of investors map out their plan for next year.
If you are looking to plan your property wealth for the next 20 years, it’s important to work what you want to achieve rather than impulse buy. Remember, property is a long term strategy requiring long term plans, and for a lot of us, it’s the basis of our family’s wealth.
So where do you start?
Here are 5 quick steps to get you started in planning your property investment for 2010:
1. Start with a clear and definite objective – When, why, who for, what do you want to achieve?
2. Have a sound property & financial strategy – What type of property, what price, which lender, how much cash do I need?
3. Take Action – Once you know your market, start shopping for wholesale prices. Find properties that are not on the market and work out how you can buy low, and sell high. Start researching sales prices, or get some help like a Buyer’s Agent.
4. Follow Through with the plan – Look at 100 properties. Your favourite may be No.7, or it may be No. 85. The more you compare, the more you get the feel for what is right for you.
5. Create a supporting environment around you – Build your team of advisors and likeminded supporters. Talk to people in the know, research the areas and use reputable property research companies to gather the information.
Sound like a lot of work? Buying at wholesale prices takes effort, yet there are shortcuts and ways to save you time and eliminate stress.
Plan Assist regularly helps investors with all areas of property purchasing, from planning to completion. It’s our job to coach you through and keep you on track. Call our Acquisition Team today on 02 9449 2333 for a no obligation chat about planning for 2010.