7 Rules of Thumb for Property Investment Success
1. You can’t do everything. Use the resources available to you.
Beginning investors often make the mistake of thinking they can take on everything. Minimal research and number crunching does not a professional make. Instead, acknowledge what areas are not your fortes and seek expert advice. Don’t be put off by money, money spent learning to invest properly is a great investment itself. It will only lead to an increased ability of managing your money properly, and investing it wisely in future. Money is always better spent learning processes than lost on bad investments.
2. Be patient.
Property investment is not a quick money-maker. It can create sustainable wealth, but that is a process that takes time. You need to be patient to reap the benefits of well-managed property investments.
3. Review your property portfolio regularly.
It only takes one bad asset to reduce your portfolios overall growth. Regularly reviewing your portfolio will allow you to recognise bad assets and consider selling them to make room for a wiser investment. read more>>