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Property Investing in Queensland
For people entering the real estate market for the first time, there are a lot of questions that need answering. Where do I find a good deal? How do I minimise risk? Should I buy an apartment or a home? The answers to those questions really depend on your individual circumstances – which is why it’s so important to have an experienced Queensland property investment consultant on your side. A property investment consultant can help you make sense of the process and set and reach achievable goals.
When and where to buy
There are some guidelines that apply, no matter what your individual situation. For starters, the best way to make money off real estate investing is not in flipping properties, i.e. buying fixer uppers cheap, doing renovations, and reselling at a profit. Flipping is incredibly risky and in the long run not very profitable. Most Queensland property investment consultant would instead have you look at the long view and purchase homes to use as rental properties. The income from the rents can be tided over into repaying the loan until you own the property outright, at which point you can continue to collect the income as pure profit or, once the property has accrued enough value, you can sell it.
To find a great rental property, look in a city centre , near the financial district or a waterfront area, since that’s where you can rely on a steady stream of potential candidates. Unless you are experienced at home repair, it’s usually much better to purchase a turnkey property ready for tenant move-in immediately. The ‘extra’ money you pay up front is quickly recouped by the earlier availability as well as the money you save trying to do jobs yourself. New construction is ideal – as long as you can make your purchase early enough. This is again an area where a property investment consultant can assist you by alerting you to opportunities that may only be offered through professional channels.
Real estate markets tend to move in seven to ten year cycles in individual city markets. A Queensland property investment consultant can help you find the property value data you need and show you how to analyze it to get a sense whether the market is on an upswing or a downturn.
How to build a portfolio
It’s normal for city markets to cycle through periods of growth and periods of slow down. This is why most experienced real estate investors carry an entire portfolio of properties spread out across the country. When you’re choosing your Queensland property investment consultant, ask if they work with branches in other Australian cities or if they do referrals if you’re interested in expanding your portfolio beyond the city limits.