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The Path to Real Estate Investing Success
When it comes to saving for your future, buying investment property in Adelaide and other Australian cities is a great investment choice. You get a tangible asset that can’t disappear in a bad trading day or dissolve when a bubble pops. At least, not if you do it right.
At Ironfish, we’ve been helping Australian investors just like you build real estate portfolios that are providing them with a lucrative stream of income. The key to our approach is balance: balance between different geographical locations and balance between different kinds of properties.
What You Buy
Let’s take the second point first and talk about what kind of investment your Adelaide investment property is. Regardless of whether it’s a house, an apartment, or a villa, we sort our investments as either a rental unit or as an appreciation property.
A rental unit, as the name suggests, is a residential unit that can put on the market almost immediately, with only some minor cosmetic work. Once you have a tenant installed and paying you monthly rent, you’ll be able to put that money towards paying down your loans ahead of schedule so you can own the property outright sooner.
An appreciation property is a unit that may not be worth much up front but is in an area or in a building that is due for a dramatic increase in value within a few years. You may be able to get a tenant in the meantime, but it won’t generate much income up front. Note however that you shouldn’t be looking at properties in an advanced state of disrepair or neglect. Properties like these can easily turn into rounds of endless repairs with each contractor uncovering new problems.
Both types of Adelaide investment property require patience and confidence in your own choices. Property investment is a long term strategy, and with a 10-15 years time frame, you are very likely be gain financial with this investment vehicle.
Where You Buy
By spreading out your investments across the country, you shield yourself from the normal dips and turns of the market in each individual state. If you can’t find a tenant for your investment property in Perth, then you can rely on your investment property in Adelaide, Sydney, and Brisbane to tide you over.
No matter what city you’re in, there are some key characteristics you should look for in a location. You don’t want to go too far out from the city centre where it will be harder to find tenants, but neither do you want to choose property in neighborhoods that are already hot addresses since these homes and apartments will have already experienced a steep price increase. Instead, look for investment properties that are right in line with the mid range of city housing costs. Find places that are near downtown areas, financial districts, or on the waterfront since these properties will be in high demand.