Four ways to make investing in property work for you

Julie Brownlee, Fsp Invest, 15 Jan. 2015

Tags: investing in property, how to invest in property, property, how to successfully invest in property,



Investing in property to rent out can be one of the best moves you make.

Over the years, you hope to benefit from the rental income from your tenants and the capital gain of your property.

It can make the ideal nest egg for your retirement.

But if you want to invest in property to rent it out, how can you ensure you make the right decisions?

Read on to find out…



How to successfully invest in property


When it comes to investing in property, it’s easy to lose focus on what you’re doing and make some mistakes along the way. These mistakes could cost you dearly.

To help you make the best decisions you can, stick to these four principles of property investing…


Investing in property principle #1: Buy the right type of property


Don’t look at properties to invest in with the view that you’re going to live there. Instead you should understand what potential tenants are looking for and use this as the basis of your property search.

Speak to estate agents in the area about what rental properties are in the highest demand. Use this to help you find the best property.


Investing in property principle #2: Don’t spend over the odds on a property


You need to buy a property that you can rent out at a reasonable rate that will also cover your bond. There’s no point buying a property if you can’t rent it out to cover your costs.


Investing in property principle #3: Don’t rely on capital gains alone


You should approach investing in property to rent out as a way to secure a monthly income. So the rent you receive must cover your bond repayment and costs.

Any capital gains over the years are a bonus for when you decide to sell the property.


Investing in property principle #4: Have an emergency fund


When you do your sums, ensure you have enough money put aside to cover your bond repayments for a few months in the event your property is empty. And have enough money set aside to pay for any repairs and maintenance.

It’s worthwhile reviewing these costs on an annual basis.

So there you have it, four ways to make investing in property work for you.

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