We asked some of our most successful landlords what they consider, the best investment advice they ever got.
Here is what they told us:
"Never be afraid to walk away from a deal/negotiation” James, Perth.
James told us that the reason behind this principle is simple and that is, whoever is not afraid to walk away, is the one with the most power.
This is true in life as well.
"Do your own numbers” Patricia, Sydney.
Patricia expanded on this by telling us that investors should never just rely on the figures given to them by agents but to do their own research and run their own numbers, for obvious reasons.
" Always have the property checked out by a builder/engineer before you buy” Peter, Bundaberg
You only have to refer to the recent Opal Apartments debacle in Sydney, to understand why this is crucial.
"Never buy property with family and friends without a legal agreement” Alicia, Canberra.
Great advice Alicia, we have heard so many bad stories of things going awry and relationships lost forever because of bad deals.
"Only listen to people who have achieved exactly what you are trying to achieve” Max, Hobart.
We all have that "know-it-all” neighbour/relative who thinks they are a property guru and they don’t even have a property portfolio.
Only listen to people who know exactly what you are going through because they have been there themselves.
"Sell for the highest price possible and buy for the lowest price possible” Jason, Gold Coast.
Well this is pretty self –explanatory.
We love your work Jason!
Thursday, 24 January 2019