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The 6 "Golden Rules" for Australian property Investment
Rule #1.
Never buy anything under 45 m2. Never buy 'student housing.' Never buy a 'serviced apartment.'
Rule #2.
Don't sell too soon. Hold your investment for a full property cycle. If it was a good property when you bought it, it will be an even better property in 5 years. Allow time to maximize the benefits of leveraging, compounding and inflation.
Rule #3.
Always buy the "lesser" property in the best location you can afford. Prime locations in Australia are the last to fall, and the first to recover in a downturn, and hold their value better, and always attract tenants.
Rule #4.
Think about what tenants want, not necessarily what YOU could live in yourself.
Rule #5.
Always look for a 'point of difference.' It could be a different floor plan, a 1 bedroom in a block of 2 bedroom apartments, a great view, a never to be repeated location, or something else unique and not easily duplicated.
Rule #6.Save
Choose your Agent before you choose your property.
There you have our 6 Golden Rules to help ensure investment success in Australia.
Ideally, your investment property should have all 6 of these in place.
If your property has NONE of these in place, then we suggest you implement additional Rule #7:
Rule #7:If you have made a truly poor buying decision, and have bought something that is highly unlikely to move up in value for years to come (if at all) or is getting a very poor rent return, then we suggest ignoring Rule #2 above, and cut your losses and sell sooner rather than later.
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