If I asked you to close your eyes and picture a real estate investor, I wonder if you see a bespoke suited hipster, or a middle aged baby boomer or something else entirely?
My experience in real estate has taught me that an investor can look like anyone – the Accrue Real Estate office gets visits from young couples, older people planning for retirement, singles looking for a start in the market and parents aiming to support their children in the future through a current investment. These people come from all types of backgrounds, culturally and financially. There’s really no one image of what a successful property investor looks like. They will come with different goals, strategies and finances.
However, years of experience have taught the team at Accrue,that to achieve success in property investment, there are some commonalities in the people with whom we work. These characteristics would probably lead to success in any investment, but at Accrue we work to achieve success in real estate.
- Goal! Goal! Goal!
Knowing what you want to achieve with your investment property is probably the most important key to success. It allows you to plan the finances, helps you to narrow down properties and gives you a focus if things ever get a little tough.
- Patience you must have
This can work in a number of ways. Often the first property you see does not meet your established goals. You might have to look at two, three or four properties to find the one that is right for you. Likewise, property investment is generally not about quick returns. You are in for the long haul, so patience is required to see the full extent of your investment return.
- It’s a big picture
The property market does not stay the same,but it is cyclical.While any investment comes with an element of risk, taking the big picture view will allow you to see that while property growth may currently be negative, in the long term there will be demand for property. Looking at specific types of property and specific locations are big picture planning strategies. Likewise, keeping emotion out of property and suburb choices also assists with the big picture of real estate investment.
- No man (or woman) is an island
You don’t have to go into property investment by yourself. There are people who are able to assist you in the decision making you will need to be successful in property investment. Accrue Real Estate is an established and experienced property introductory service. The Accrue staff have the experience to take the stress out of the property purchase process.So, don’t go it alone… let Accrue Real Estate help you realise your property investment goals.