5 Property Investment Tips to Increase Rental Income
Everybody wants to have their own property investments and it can be a bit daunting for some. That’s why they actually often hesitate, even when they have the money to do it. Luckily, here are five easy property investment tips that you should know about to help you get started.
1. Owner occupier appeal is everything!
If you go in to invest, the property needs to have owner occupier appeal. And if you are looking to get out of that investment at any stage, you'll need to be able to sell that for good money and have a level of competition. So you need people to want to live there and it needs to be desirable.
2. Rentability factor.
Taking advantage of the growing AirBnB market is not a bad idea. Look into factors such as a property being close to stations, trains, buses and easy access to cities. If you can’t rent it, you run out of money and it’s game over!
3. Buy land.
Buy land because they don't make any more of it. A nice piece of land in capital cities where infrastructure and commercial buildings are being built every day and you need to buy now because land value will always appreciate! You can build on it later.
4. Subdivide that land.
One of the smartest moves you can do is to buy land that you can multiply later on. So, buy that large piece of land and then put four townhouses, put multiple units and do things where you can actually manufacture capital growth. If you don't get much capital growth, use the law of multiplication.
5. Befriend your real estate agent.
Be nice to your estate agent. That's very important because they might give you opportunities and tips that you can use well. You also need to find a good property manager that can handle things for you. Remember that treating them right and being nice to them will allow them to be grateful and work harder and your investments will return tenfold.
So, those are my five tips that you can apply to your property investments. When I invest in property, those are the factors that I look at. And, if you have any questions about property investments or anything property related, please get in touch with me at 0402 909 727. Cheers!
