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Build Your Property Investment Portfolio in Four Easy Steps
When it comes to real estate investment, many people know that it can be very lucrative – but think that it’s only for companies or wealthy individuals who have a lot of cash to hand. In fact, getting your foot in the door has never been easier. In our property investment seminar in Melbourne, some of Australia’s expert real estate and property management specialists will teach you in just a few hours how you can build an entire portfolio of real estate investments that could start paying you back immediately.
Step One: Choosing the Right City
This is a tricky topic – because the right city might be all of them! When you’re building a portfolio of property, you’ll want to spread out your investments over multiple cities across Australia. It’s normal for local markets to rise and dip, and for certain areas to experience slowdowns. When your properties are in different cities, you are buffered from the economic effects of a local slump. At our Ironfish property investment seminar, we’ll not only cover Melbourne prospects but areas in other cities including Brisbane and Sydney.
Step Two: Choosing the Right Location
Within each city, you’ll want to find desirable properties that will be easy to rent out but aren’t in areas that have already hit their peak. Don’t go for the most obvious neighborhoods or the most expensive homes or apartments on the block. Look for areas that are due for an upswing, or areas that have new infrastructure that will be coming in shortly.
Step Three: Choose the Right Properties
When you are scouting a neighborhood for potential buys, you should be looking for units or buildings that are priced in the mid range for the area – the more expensive properties on the street will draw the value of your real estate upwards more quickly. Don’t go for real estate that needs a lot of work: it’s all too easy for these kinds of structure to become money pits, absorbing more and more cash to get them in a liveable condition.
Our Melbourne property investment seminar will review places and areas that you should be looking at. Areas near the business districts or on the waterfront will always be in demand. You can also look for areas that will be receiving new infrastructure, such as new highways or train stations.
Step Four: Maintain a Balanced Portfolio
As you find and choose your locations, you should not only be considering each property on its own but how it will function in your portfolio of real estate. You want a good balance between investments that will start paying you back immediately and properties that will appreciate over time. A turnkey rental unit in a desirable location will immediately start generating income for you. An appreciation property might be a house in an area that you expect will be the next hot spot within Melbourne. Our property investment seminar will help you plan out what you should expect to make and how fast you can expect to pay back your loan.