What is the Number 1 Mistake people make when buying an investment property?
Written on the 31st of March 2011 by Nathan Cross - Managing Director Propertyfarm
Believing you are a property expert
You have bought your own home, maybe even sold and bought a couple of times so you know how to deal with an agent and how to organise finance and engage a solicitor. The family home has probably gone up in value, and the area you live in probably increased in value. So does this make you a property expert?
According to Nathan Cross, Managing Director of Propertyfarm, the simple answer is NO.
Nathan is a Property Buyers Agent who provides a complete (and free) consultation service for people who want to invest in residential property.
“Most people look for property in areas they know and are comfortable with which is usually within 10 kilometres of where they live” Nathan said.
“The problem is that there may be other areas with far greater growth potential and higher rental yields. The reason people buy investment property is for longer term capital growth and to build wealth. It is a probably one of the largest investment a person will make so therefore it is imperative to seek independent and up-to-date property research."
Nathan said "Most of us know that property is a wise investment, yet so few people have the time, experience or expertise to succeed in the property investment market. But now, thanks to Propertyfarm, you can successfully create an investment property portfolio regardless of your skill level or time constraints.
Essentially Propertyfarm as your ‘buyers agent’ searches, evaluates and negotiates the best possible price for you the buyer.
If you are looking to invest in property, ask yourself...
Do I have the time?
Do I have the market knowledge?
Can I negotiate and get the best price or will I pay more than market price?
What is depreciation?
If you would like to build a property portfolio the stress free way, call Propertyfarm and speak to Nathan today on 1800 WORK IT for an obligation free appointment.
We don't sell real estate; instead Propertyfarm source investment properties for you in areas of strong capital growth. We perform all the research and due dilligence. With specialists in the fields of property acquisitions, finance, building construction and property management guiding you the whole way, investing in property has never been so simple.