Hello everyone, it’s Glen from 21st Century Group, constructions, investments, property management. You know normally when I talk to someone or an investor, let’s say they would say Glen can you give us some tips on investing in property. That’s what we do right. And so what I’ve done is I’ve written down some tips and I’m going to talk to you about it. Glasses on. Yeah so. Here are a few tips never ever invest until you understand the numbers. Never don’t do it. Just don’t do it on a whim. Understand the numbers, understand how the investment works. Okay. Be very sure about it. We’re not talking about a $10,000 or $20,000 or even a $50,000 investment. This is house and land or a unit or a town house, or whatever the case might be. So it’s fairly substantial so you need to understand how it works. You need to understand the pros, you need you need to understand the cons. Okay. It’s not just pros, you know they’ve got the upside, you got the downside. You’ve got to understand that and you’ve got to balance it out. All right. So understand how the numbers work, understand that that if you don’t have a tenant for a couple of weeks, or whatever the case might be how does that affect you. You need to understand all of that right. Make sure of the holding costs. So what are the holding costs? The holding cost let’s say one of my investments would be your property management fee, you would have a letting fee, you’ll have rates, you’ll have insurances. Right. Sometimes you’ll have a body corporate, if I’m doing a townhouse development. Right. So you need to understand all of that how it works, you need to understand the tax deductions that you get as well. All right. Especially if it’s a brand new. Brand new maximum tax deductions. All right. Invest in locations where you know what the past is like. Right. You know what the present is. And also you know what the future is going to be. So locations which have got excellent schools, or lots of schools around it. Public transport. NowI know everyone tells you that, but do a little bit of research. Hospitals, universities. I don’t know. Great golf courses. You know. Anything, that’s going to attract people to any area. So location is extremely important. I mean, I know. You can go and buy a property in Woopwoop land, but you’ve got to ask yourself the question: How many people do really want to live in this place? Okay. How many people? Do your research. It’s quite simple. Right. And there are lots of steps out there to prove this. So, also when you talk about investing in property. Talk to a few different lenders, you can talk to your bank, right. And there are mortgage brokers out there as well. So talk to a few different mortgage brokers because at the end of the day they’re not charging you. Right it’s no skin off your nose. Right. And I’m sure they’ll all do their very best to get you the best rate not just the best rate but also the best terms and conditions with this investment All right. So give it a crack at that. Some of the investors asked me, Glen, for how long am I supposed to hold this investment? And here’s my answer to you. Hold it for as long as you can. Now some people will tell you, listen hold it for seven years or hold it for 10 years or whatever the case might be. No! Hold it for as long as you can right. The longer you hold it, the better the capital growth at the end is. Right. If you know exactly what’s happening. All right. So hold it for as long as you can There are folks out there who prefer to buy and sell continuously, works with them right. But you’ve got to be on your ball, you’ve got to know exactly what you’re doing. But for a first-time investor or second time investor, buying and holding for a long time. Have a plan, have a goal, know what the plan is all about. And stick to the plan. Another question is new over old. Simple answer. With new, it’s going to cost you a little bit more. Let’s face it. All right.
Investing In Property Has Never Been So Easy
Want to start investing in property? Click here to contact us and discuss your investment goals and find the investment property that would suit your needs: https://21stcenturygroup.com.au/contact-tn4/