It’s no secret that the Australian property market is going gangbusters.
And that can make people kind of crazy… we’re certainly seeing evidence of that right now in the buying frenzy that’s going on.
It gets me wondering…
Which buyers out there are making smart investment choices…
… and which of them are going to be kicking themselves later for the decisions they’re making today!
What do you think is the biggest mistake people are making in this property boom?
I dare say this is the only mistake that’s differentiating the people making money in the property industry, and the others who are just watching it happen.
I know what you are thinking. But it’s not any of the following mistakes –
– It’s not investing in the wrong area.
– It’s not buying at the wrong time.
– It’s not using the wrong strategy.
Certainly, these are all mistakes but they’re not the #1 mistake I’m talking about. The biggest mistake that you will make during this property boom is doing nothing.
During the last boom in 2008/2009 after the GFC, I I told people to take advantage of the market. And many of my BlackBelt property coaching members listened to me and bought property. They made huge profits and are sitting on multi-million dollar portfolios today.
But some people listened to the naysayers. They listened to people who told them the bubble would burst, prices would plummet, and property would go back to pre-GFC levels.
None of this happened. Instead, good investment properties just rose and rose in value… and have been doing so ever since.
So hear me now. You can’t afford to do nothing in this boom. Because the market is only going to go one way long-term: up.
Experts have predicted a 25% property growth in the next three years. That’s a lot of equity in your portfolio that builds on autopilot. You can’t get those returns anywhere else except the casino – and who in their right mind would want to take that risk?
You will always miss 100% of the shots you don’t take. So, if you have been sitting on the fence, now is the time to take action and begin investing in property.
Invest Urgently But Don’t Rush
While I am definitely urging you to take action now, I’m not telling you to go out and rush into a purchase you may regret later.
Do your due diligence when finding a suitable investment property in the right area. Work your numbers and make sure you don’t overstretch yourself. Invest when you are ready. Be urgent in taking advantage of this opportunity, but don’t be rushed.
It’s always worth being meticulous with everything you do with property investment. If it looks too good to be true, then it is! Get rid of the get-rich-quick mentality – investing is a long-term game, and one that rewards handsomely if you do it right.
Don’t Regret Tomorrow What You Can Do Today
Your strategy should be to buy quality properties and watch them grow over time. Focus on capital cities and big regional centres. Check for places with high demand and low supply.
You must do your research. However, quick research won’t give you the right information. You need to get a good strategy that can help you identify the top 100 suburbs to invest in. Get properties in these suburbs, and they’ll double in value in ten years (often less).
The research part of investing is the most important, and also the most time consuming and sometimes difficult if you don’t know what you’re looking for. I myself pay for research from the country’s top data providers and assess over 100 data points of every suburb in Australia to create my Top 100 list to follow for my own investments and for my BlackBelt members.
Getting started can be daunting when you don’t have years of knowledge and experience to draw from. That’s why I recommend getting educated before making a purchase. Get a mentor. Do a course. Whatever you have to do to set yourself up for success as soon as you can.
How to get started
If you’re interested in learning more about how to set yourself up to invest in property safely and with carefully mitigated risk, I’d love to help.
My Markoski Method is a tried and tested way to profitably invest in property while protecting your income and assets at the same time. It’s part of my BlackBelt coaching program that educates and coaches members to get their first, second, third and fourth property (and beyond).
We only work with a certain number of active members at a time, and we’re currently taking applications for the next round of new members.
If you’d like to find out more about the program, or see if we might be a good fit, get in touch with my property concierge Charmaine for a 15 minute ‘getting to know you’ call. On the no-pressure, no-obligation call, she’ll assess where you are now, and give her honest opinion if you’re in a position where we can help you build your portfolio.
Here’s the link to Charmaine’s calendar – book a convenient time to chat now.