Some basic mistakes that investors make

Investing your money when you’ve work so hard for it can be an emotional thing to do. Whilst every investment has a degree of risk, with a lot of research, due diligence and speaking with the right professionals you can set a clear path for your investment strategy.

As a first-time property investor, it can be a steep learning curve. Gold Seal Finance want to help you avoid some of the common and most basic mistakes that investors make.

Do’s and don’t of property investment

Don’t buy on emotion.

When you invest in property you have to invest with the information you have on hand, you can’t use emotion to guide you. If the figures don’t add up, it’s time to move on.

Do understand the market.

When a first-time property investor buys outside their area of residence, it can be easy to compare the area they bought their home in to the area they are looking to invest in. Never underestimate the power of research. Get a feel for the area, even do a drive around, you might pick up some valuable information about the local market, but without doing your due diligence you could be taking a gamble. Remember though Property Investment is long term.

Don’t try and do it alone.

As a first-time investor you might think that you don’t have the finances to get assistance, but the reality is, can you afford not to get help? When signing contracts, it is important to get the right advise from professionals that protect you. The team you choose to assist with investing will make all the difference to the outcome.

Do make the most of your investment.

Part of your team should be a great accountant. There are a lot of deductible expenses that you can claim on your investment property, don’t miss out, get a good accountant to help you.

 

Do educate yourself.

It pays to know the ins and outs of investment, but so many people don’t have time for that, but that doesn’t mean you should miss out. Why not take advantage of the decades of experience and knowledge the team at Gold Seal Finance have?

If you’re in or around Logan or Brisbane why not pop in for a chat, or we can come to you. When you need a financial advisor you can trust, talk to Gold Seal Finance.

General advice warning

This information and the links provided are for general information only and should not be taken as constituting legal, financial or professional advice. You should consider seeking legal, financial, or other advice to check how this information relates to your unique circumstances.