For many, getting started in property investment is the hardest part. From not having enough knowledge about the industry to not being able to afford an investment, there are plenty of barriers that can stop potential investors from climbing that first rung on the property ladder.
According to ParkTrent Properties Group CEO Ron Cross, one of the first things you can do to get started in property investment is to meet with a specialty real estate firm, such as ParkTrent itself. “There are vast differences between a normal real estate agent, and the knowledge and experience of ParkTrent,” he says, and with over 29 years’ experience in the industry – he’s not wrong!
Ron Cross says that one thing that stops a lot of people from moving into the investor market is property affordability. “It costs you nothing but time to sit down with a property professional and have them go through the information with you,” he says. “With good rental returns and with the taxation on negative gearing, you may be pleasantly surprised by what you can afford.” In these recent times, there are government incentives to assist you as well as the banks becoming more flexible in the structure of borrowing, making property investment more affordable than you may think.
Understanding exactly how the property industry works can be confusing, which is why many of our clients begin their journey by attending one of our free property information seminars. At these free events, we share the most up-to-date and innovative methods for property investment success, making sure you leave the evening with as much information as possible. You can find information on the upcoming seminars in your area on our website.
As far as getting started in property investment, Ron Cross suggests sitting down with a team of property experts (such as those of us here at ParkTrent Properties Group) to see how you can get involved. “My top three tips for getting started in property investment are to be positive, be patient, and be careful,” says Ron Cross. “And don’t build up unnecessary credit card debt!”