It is a well-known fact that investing in property is probably one of the smartest things you will do with your money, but make sure you do it right so as to create a lucrative future income, and not set yourself up for bankruptcy. The Property Buyer Show, taking place on 08 and 09 April 2017 at the Cape Town International Convention Centre, is a first of its kind show aimed at first-time home buyers and property investors, with this in mind the organisers sat down with their exhibitors and asked them what key tips they would give to first-time property investors.
- Investing in property is not a get-rich-quick type investment, it is a long-term investment, and one that you will have to see through potential ups and downs before seeing a real return on your investment.
- Unless you are fortunate enough to have a large amount of capital to buy numerous properties at once, rather focus on one property at a time and only when you have enough surplus capital or income to then look at buying another investment property.
- See each property that you buy as an investment almost like another member of your family, one that will be with you for the long haul. The only way your investment properties can make you money is by keeping them that means not selling them, not even to buy another property with!
- Do your homework when buying residential investment properties. Make sure you buy in the markets and areas that have the highest demand for rental properties, giving you the best rental rates. Don’t discount flats or townhouses – they can offer some of the best returns. And remember to make this purchase with your head and not your heart – you are not going to live in this property!
- Focus on the income that your investment property can give you. By focusing on the income you will be able to reach breakeven faster on your investment than if you were focusing on capital growth. The more income you are able to collect each month from rentals, the more chance there is that you will have surplus monies to buy another investment property and thereby continue to grow your property portfolio.
- Unless you are facing some sort of financial disaster – DO NOT SELL any of your investment properties. The costs of selling a property are high and you will lose profits!
- Remember to include your own home as part of your investment portfolio, and try to avoid the need to keep up with the Jones’s. When your income increases rather than looking to buy a bigger home, why not rather invest that money into another investment property and increase your future earnings.
The Property Buyer Show will run two property theatres aimed at First-Time Buyers and Property Investors. For more advice on owning a property visit the Property Buyer Cape Town on the 8th and 9th of April 2017.
For more info on the Property Buyer Show, please visit
www.propertybuyershow.com
Facebook - https://www.facebook.com/Propertyshowsa/?fref=ts
Twitter - https://twitter.com/propertyshowsa
Tickets on sale at R80 pp - http://www.propertybuyershow.com/register
