Property Investment can be confusing!…
Especially when you hear lots of conflicting advice on what makes the best investment type.
The Local Agent recommends their area as being the “best buy” and some suggest any property with development potential. The Builder’s recommend that new is always the “best way to go”. Finally a Buyer’s Agent always says that established is “definitely the best” type to buy. It’s no wonder that people get confused.
After looking into each of the major Real Estate Agencies, Builders, Buyer’s Agents and Investment Experts it was clear to me that no one in Perth can help investors with all 3 main types of property… Development Sites, New Investment Or Established.
So each company ends up being biased to only recommending properties that they can source and also telling investors to stay clear of the types they can’t.
The truth that no one tells you, is that each type has pros and cons and what is best all depends on you!… Your situation, goals, comfort zone, financial capacity, skills and time available all come into choosing the right investment strategy…. Makes sense right? But instead of taking the time to find out about you, each sales person will typically just see if you have the money and then try to sell you what they have got. Don’t blame them, it’s their job.
Each type of investment can be great and a balanced portfolio can be made up of all types but if you purchase the wrong type for you, it can all go horribly wrong. I have met many investors that have over stretched and others that are going backwards all because they are not using a strategy that is right for them.
Your Next Steps
If you are not sure on what type is right for you, catch up with us for an obligation free Property Strategy Session. Request yours here.
It is my hope that investors ask us for advice before they buy because afterwards, it is too late.
