For many, the choice to invest in property can be daunting and risky. With property prices on the rise and the cost of living going up, it can be hard for those already struggling to justify the value of property.
But it is my belief that property continues to be one of the safest and most stable investments you can make. Between compound interest and rental yields, investing in property is still the best way to protect the interests of you and your family.
The 'Why' In 1967, I was twenty years old, flat broke, and my parents still rented a small house and drove an old car. And yet, ever the optimist, I still dreamed of becoming a millionaire one day. I knew it would take a lot of hard work, but I also knew that it would allow me to live comfortably and retire early.
Only seven years later, I would make my dreams come true and retire as a millionaire at twenty-seven.
For me, a chat with the local real-estate agent was all I needed to be convinced of the benefits of property investment. As a young man, I, like many potential investors now, was trying to justify the ‘why’. The real-estate agent laid out growth cycles and pointed out that it only took a decade or so to double an investment. At the same time, I was looking at all the millionaires in The Women's Weekly and noticed a running theme in that most of them started in property.
It was clear to me that property was what was going to help me achieve my goals.
The 'How' Buying a house is hard work. In 1967, I was working three jobs and running myself ragged just to be able to purchase my first piece of property.
My first purchase was a shot in the dark, an investment that was filled with anxiety and second guessing. I was sure I had made every mistake in the book.
Imagine my surprise when only six months later I received an offer on the property that was three times the amount I had managed to save while working three jobs. It was extremely gratifying and solidified my decision to continue to invest in property.
My guide to property investment Property investment is a long game, and there is no one way to do it. You need a ‘why’ and you need a ‘how’, and they have to go the distance. Do your research and don’t believe the myths.
For me, my ‘why’ was that I wanted the security of being a millionaire. For many, the idea of a solid investment with which they can protect their family is a big reason. For others, it's a good easy way to generate income on the side.
The ‘how’ can be a little more complicated. Your start in property can take time, hard work, and big risks. But still, the payoff is worth it, even more so if you start while you are young. I worked hard when I was a young man so I could live in comfort in my later years.
My number one rule for property is to always remember that your investment is about the future, not the now. It will be in your best interests to be smart and careful with the money you make from your investments. While it can be exciting, make sure you are considering your future wealth and investments first before making any big leaps.
My second rule is to always have a plan. My choice to invest in property was not made flippantly and without forethought. I carefully considered the risk and kept vigilant with documenting my investments. In fact, the very worksheets I used to achieve my success are available through Property Club.
My third rule is to stop procrastinating. Get started now and your dreams of becoming a property investor will come true.
Learn to Invest In Property with Property Club The choice to invest in property requires vigilance and hard work, but it is accessible to everyone no matter their background. Success can not only lead to safety and security, but also an early retirement. Look after yourself now and invest in you and your family's future.
If you want to know where to start investing in the property, join Property Club to gain access to expert advice and guidance. Begin your property investment journey today by contacting us today at email@example.com.
Making mistakes is par for the course with property investment for beginners. While…
Dual income properties are a great choice for investors who want to get ahead in their…
As an investor, it’s important you do your due diligence when conducting your property…
Our mission is to help the average Australian learn the property market dynamics and discover the amazing opportunities that exist in real estate.