Property has long been the great Australian Dream, and for many it’s moved on from simply owning their own home; bricks and mortar are now seen as a great investment opportunity.

Whether you are at the start of your property investment journey, or you already own a second property or have a portfolio, we believe there are three more things you should be investing in.

Invest your time

First and foremost, like any investment you do need to understand how property investment works, what to look for and then make a plan. Take the time to work out your long-term goals, review your finances, speak to specialists, understand the risks and find out what works best for your situation.

If you already own a property, take the time to review your strategies and periodically review your finances and your mortgage package. And take the time to review your property! Is there any way you can increase your return by making improvements?

Investing in time is one of the most important things you can do when it comes to property investment.

Invest in research

If you are new to property investment, get your books out (or internet on!) and do your research. You’ll need to understand how the market works by looking at historical data to help you get a feel for the market. Know what the pros and cons are for the different property investment strategies so you can work out what’s best for your situation.

Drive round locations, look at different properties, know what to budget for, the list goes on.

Even if you own several properties, whether it is looking for a better deal on your finance options or looking to diversify your portfolio, never stop doing your research.

Invest in yourself

You don’t want to go into property investment half-heartedly. You are making a long-term commitment to realise your long-term financial goals, so invest in yourself and get your mindset right. Be prepared for setbacks and for things to not go according to plan. Read books about how other investors keep motivated and their story. They will inspire you.

Investing in property is a gateway to new beginnings, so keep focused, stay positive and visualise your end goal.

Many people talk about investing in property but aren’t sure where to start. Come along and talk to us! Our knowledgeable and experienced team can guide you through the process, tell you what to consider, where to find information and who to talk to so you can make informed decisions.

We are one of Newcastle’s longest established real estate offices and have helped hundreds of property investors realise their dreams through property over the past 40 years, so give us a call on 02 4956 9777 or pop into our Cardiff office for a chat. Or send us an email to: mail@newcastlepropertymanagement.com.au- we’d love to hear from you.