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Choosing a property investment consultant in Brisbane
Investing in real estate is a great way to save for retirement and grow your wealth. For many people that journey begins by building your team and making a plan for success. An essential person that you need is a property investment consultant. A Brisbane property investment consultant can not only help you find the best possible investment opportunities but can also help you prepare and understand what to expect and how to minimise your risk.
Making a plan
The first part of working with a property investment consultant in Brisbane is creating a strategy for your investments. You should find an consultant who takes the time to understand your individual situation. Don’t accept a generic, one-size-fits-all strategy! A good plan should incorporate your current financial status, your tolerance for risk, and your goal for what kind of income you want to see. The next step is to have a frank discussion of what results your property investment consultant anticipates that you will have, including not only what kind of return you should expect but the timetable by when you should expect it.
The next part of the strategy is deciding how to build up your portfolio. A single investment property in a single market is risky. The better plan is to roll over profits into buying multiple properties across Australia. A downturned market in one city will be balanced out by rents in other cities. A portfolio is also a great way to balance apartments that will be worth more down the road with homes that are bringing in a high rent right away but not appreciate as much over time.
Finding the property
Once a strategy is in place, a Brisbane property investment consultant can help you put your plan into action, starting with your first purchase. For an investment property, you’ll want to find a home near a city centre such as the financial district or the waterfront where the demand is high and can be reasonably expected to remain so. Avoid trendy neighbourhoods – by the time they’ve been appointed the next big thing the property values will have already risen accordingly. Instead, keep an eye out for developing areas, or regions due for new infrastructure that will increase the liveability. This is another place your property investment consultant can help you since they should be aware of upcoming projects in their city.
Choose apartments or homes that are turnkey – i.e. ready for tenants right away. You may pay more upfront, but you’ll be able to fill the apartment faster and get your revenue stream flowing as soon as possible. Look for desirable buildings with open floor plans, mixed use spaces and pleasant public areas, and with access to public transportation or freeways.
The first step
Whether you’re looking to save for retirement or generate another stream of income for your family, Ironfish is one of Australia’s top property investment companies. Call today to speak with an experienced Brisbane property investment consultant.