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5 tips for getting started in property investment

By: Tony Rigby

1. Know your budget

Before investing in property it’s vital to have a thorough understanding of your cash flow. Also, ask your bank for a pre-approval of your investment loan, so you know how much you’re able to borrow before you start hunting for properties.

2. Buy in a growth area

Try to choose an investment property in an area where there is a strong demand for rental accommodation.

3. Be realistic about your investment goals

Are you looking for fast capital growth or wanting to hold the property long-term?

4. Look for realistic investments, not luxury

Remember an investment only has to be functional. Don’t get sucked into investing simply because something may be perceived as a luxury.

5. Invest with your head, not your heart

When investing it’s very easy to get caught up in emotions. Be sure you weigh up the pros and cons.

 

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