Property investment, get into it today!
But where do I start?
Our friends over at Smart Investment published a good article yesterday on Property Investment. “How to build a large investment property portfolio on an average income”. Something that both Sim and I have done. JPI is the next level of our journey and our attempt to give back and educate others. There has never been an easier time to learn the fundamentals of and profit from Property Investing.
The article states 4 easy steps;
- Do your research
- Obtain a mortgage
- Use your equity
- Don’t wait
Easy, right? Research is vital. Not only property research but investigating what is involved in being a landlord. Legally what do you have to provide your tenants? How do you complete the necessary paperwork? Where do you find great tenants or how do you choose a real estate agent? There is limitless information out there.
Obtain a mortgage.
Depending upon your situation, this may not be so easy. Since the credit crunch banks around the world have become more careful with who they loan to. However loan rates are at an all time low. If you have a full time job and can prove you are a ‘safe bet’ you could land a excellent mortgage. Again, research, research, research.
In the article Paul Glossop writes about using equity that you have built up in your personal home. However you may take the Rich Dad Poor Dad (RDPD) route and save your equity for a down payment on a rental property. RDPD’s philosophy was to send all available cash on a buy-to-let portfolio that afforded you enough money to pay for your own dream home.
Lastly, don’t wait. This is vital. The earlier you get into property investment the quicker you profit. Don’t read that as ‘quick profits’. It takes 20-30 years to pay off a mortgage but when you do the pay back increases. The longer you put off investing the long it will be till your profits roll in.
Do your research today, or call/email us at JPI to see how we can help you get involved immediately. Sim and I have 20 years combined knowledge of research and taking action in property investment. “Invest together grow together”.