After reading many posts by mainly beginning investors, I am really interested - actually intrigued, in knowing what peoples' expectations and goals are from investing in property. I see so many investors asking the same questions such as - "do you think I should be looking for cash flow properties or capital gains properties?" or "what are the best areas to buy in to achieve this?" and "what yield do you think I should be looking for?"
I strongly believe your outcome is dictated by the quality of the questions you ask yourself, and these types of questions I don't believe will lead to financial freedom in property. A big mistake people can get caught up in is talking property 'jargon' as if it actually has any relevance or significance to what they are doing.
I am interested in investors' thoughts on the following questions as it applies to you, and how you see the answers relating to your own situation and long-term vision:
Do you eventually want your property investments to replace your regular income, or will it just be a supplement to it?
What time frame do you expect this will happen in?
How are you going to achieve this? (rentals, developing, quick cash, lease-options, renovations or other)
How much weekly income from your properties after all expenses are you planning on?
How many properties will you need to do this?
Will they be freehold ie no debt on them, or still partially mortgaged?
Are you relying on any capital gains in order to achieve your goals?
If you do not get the capital gain you hoped or planned on, will this affect your outcome?
What happens if your rental properties values just keep pace with inflation at best - would you re-think your overall strategy?
What was the main benefit, or advantage of property investment that initially interested you?
Regards
Graeme Fowler
I strongly believe your outcome is dictated by the quality of the questions you ask yourself, and these types of questions I don't believe will lead to financial freedom in property. A big mistake people can get caught up in is talking property 'jargon' as if it actually has any relevance or significance to what they are doing.
I am interested in investors' thoughts on the following questions as it applies to you, and how you see the answers relating to your own situation and long-term vision:
Do you eventually want your property investments to replace your regular income, or will it just be a supplement to it?
What time frame do you expect this will happen in?
How are you going to achieve this? (rentals, developing, quick cash, lease-options, renovations or other)
How much weekly income from your properties after all expenses are you planning on?
How many properties will you need to do this?
Will they be freehold ie no debt on them, or still partially mortgaged?
Are you relying on any capital gains in order to achieve your goals?
If you do not get the capital gain you hoped or planned on, will this affect your outcome?
What happens if your rental properties values just keep pace with inflation at best - would you re-think your overall strategy?
What was the main benefit, or advantage of property investment that initially interested you?
Regards
Graeme Fowler
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