5 Golden Rules On Property Investment You Should Know
Below are YK DAILY'S top tips to help you stay focused & decisive.
1. Set your goals
Knowing your destination is the first part of any journey. By setting clear targets you can ensure your property purchase meet your needs.
2. The Profit Is In The Purchase Not The Sale
It is when you buy a property that you lock in a profit. Finding the best priced deals is crucial to success.
3. Buy With Your Head, Not Your Heart
Whether the property matches your financial goals and whether it generates the required return is paramount when making a decision. Whether you would want to live in the property yourself shouldn't be number one.
4. Be Decisive To Secure The Best Deals
Great deals by their very nature are not around long. Procrastination is one of the biggest dangers to any investor‘s chances of success when it comes to grabbing the best bargains. By constantly searching what is on the market will automatically put you ahead of the queue to grab the best sales.
5. Knowledge Is Power
To make the best decision you need to know all the variables. Property duties, local demographics, market trends, tax planning and legal requirements all need to be researched before investing your capital.