“Save money,” they say. “It’s easy,” they say. “Anyone can do it,” they say. On the face of it, ‘they’ appear to have a point. On the face of it! Scratch the Investment Property surface however and there’s a whole untold story behind those glib statements.
Time is Money
At Stills Properties we get it – property investors want to make money, not spend it. But how valuable is your time? The old adage ‘time is money’ never rang more true than when it comes to managing your own investment property, because how much of your family time are you prepared to commit to:
* Dealing with late-paying tenants?
* Evicting a bad tenant?
* Finding a new tenant when the current one leaves?
* Performing regular property inspections?
* Organising necessary repairs?
* Keeping up-to-date with applicable legislation?
Australians have long favoured bricks and mortar investment over the stock market.
But with recent lender restrictions, interest rate hikes and talk of property price corrections and a housing crash, Aussies are said to be losing confidence in the viability of property investment.
For a confident property investor, they know not to panic. They understand the market is cyclic and property values fluctuate over time. They ignore the hype and focus on researching the market, gaining knowledge, and having a plan.