Property Investing has its pros and cons for different people depending on their circumstances, so it pays to be well informed whether you’re a seasoned investor or new to the game.
- Understanding the tax benefits and pitfalls.
- Understanding property valuations and depreciation schedules.
- Weighing up the pros and cons, and practicality of either managing your investments yourself or using a professional property management team.
- Taking into consideration that it won’t be you living in the property, you’ll have tenants.
- Understanding what your responsibilities are as a landlord including insurances, repairs, maintenance, strata fees, sinking funds etc etc.
- Understanding the difference between good and bad debts.
- Understanding the difference between positive and negative gearing.
- Putting the right amount of research into prospective investment properties and the area they’re situated in.