The more you know about the most common mistakes that investors make, the better your likelihood of building lasting wealth.
In a series of short 3 minute videos, Ahmad Imam and I discuss the common mistakes we’ve seen investors make.
Unfortunately, we know most property investors fail. 20% of those who get into property investment sell up in the first year and around 50% have sold their investment property within 5 years.
Of those who stay in the game less than 10% own more than 2 properties and 1 in 200 own six or more properties.
So, let’s start this video series with a big picture overview of where property investors get it wrong…
Some of the points discussed:-
* Most property investors fail to develop the financial freedom they deserve
* They buy the wrong properties, get the wrong finance, don’t protect their risks, or don’t review their portfolio
* Many investors don’t have a plan or strategy, others have the wrong strategy
* Many buy emotionally — near where they live, want to retire, holiday, or they fall in love
* Strategic investors review their portfolio annually
* There are always risks with investing — but there is a bigger risk of not doing anything to protect your future
* Often the biggest risks is what’s left when you think you’ve got all the risks covered — you the investor
* Risks you to need to consider -
- Interest rate risks
- Market risks — cycles insurance, buffers good team, right structures
- An x factor
With thanks to Michael Yardney's PropertyUpdate.com.au