Verify The Information With Other Sources
Whatever the agent, seller or developer tells you, verify the information with other sources (e.g. check with other agents, the developer’s competitor and browse the internet for any relevant information about the property or project). This will increase your confidence level on your property investment when you get consistent information from various sources.
Be Willing To Overcome Challenges And Obstacles In Your Property Investment Journey
Don’t let others discourage you from investing in properties. Be willing to arm yourself with the right knowledge to overcome the challenges and obstacles faced in your journey. Be resourceful to find solutions to those challenges and obstacles from property forums and books or ask other successful property investors.
Use The Power Of Leverage To Your Advantage
Learn how to invest with little or no money down and leverage on the bank’s money to finance as much as possible on your property purchase. But make sure that the monthly rental you receive or expect to receive will cover the monthly mortgage installments. The lesser your money you put into the property purchase, the greater your chances of getting a higher return from your property investment.
Learn From Other Successful Investors And Property Experts
You do not need to reinvent the wheel as you can learn how other successful investors and property experts have succeeded in their property investments. Read their success story and learn from their experiences. Follow their steps and apply them in your next property purchase.
Never Give Up But Learn From Your Own Past Experiences
Your own experience is also your best teacher. If you have made some mistakes in your past property investment, learn from it and identify what you should have done differently to make it a success so that you will be better prepared for your next property investment.
Once you have succeeded in generating a good rental yield and/or a positive cash flow from your property investment, or managed to make a good capital gain from flipping the property, rinse and repeat the strategy that you have used and you are on your way to be a successful property investor.
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