recession-proof strategy. Using these,
not one of his own properties or those
the current market.
positioning away from noise and main roads.
"You've got to buy something that suits the
majority of tenants in that particular area.
Factors such as these will ensure your
property is attractive to renters and will
guarantee your income stream."
leisure facilities its more likely to grow by
more than the average in a good market and
is more likely to hold it's value in a down
market. If you buy around the median price
then more people can afford to rent it and
more people can afford to buy it if you are
put into a forced sale position.
and there's plenty to choose from. It's often
worth paying market value for a good
property in a top suburb than it is to get a
discount for something that no one else
really wants. Time in the market is more
important than timing the market.
tidying the garden, painting the fence,
installing new curtains or blinds, and
replacing the kitchen-cupboard doors. For
every dollar you spend on renovating you
should be aiming to get at least $1-2 back in
the value of your property.
zone. This will ensure you can continue to
make mortgage repayments even if you lose
your job. Don't find yourself in a forced-sale
position as you won't get the best price and it
may trigger capital gains taxes and other
expenses.
tenants and that they pay a good market rent.
Consider tying your existing tenant
down to a new 12-month agreement.
This will help guarantee your rental
income.
CEO of property-portfolio company Empire CEO.
Guide to Building Wealth from Property,
visit www.yourempire.com.au