The 03/12/2018
Looking back, being a successful real estate investor is simple.
For example, it's easy to see that we would have done better to keep this first house that we bought 15 years ago for $ 150,000, which is now worth $ 400,000. Or that we should have rented this innercity property instead of selling it so that it would invest in another property – only for triple-decker CBD housing.
Unfortunately, we can not go back and make different decisions. But we can try to develop strategies so that our real estate projects have the most appropriate meaning in the context of our current lifestyle and our investment objective.
When you're younger, for example, it's the perfect time to invest because you have many decades of growth ahead of you. However, young people have disadvantages.
"Generally, in this age group, the most important thing you do not have is money or a well-paid job," says Philippe Brach of Multifocus Properties and Finance. "This is definitely the best time to start investing in real estate or anything really, because of the power of capitalization. But with a lack of deposit or a lack of income, you will have trouble. "
"Your time and money are extremely powerful and you can use them to increase the income that will go to you or … far from you"
The next best time to invest would be in your thirties or forties, when you have accumulated savings and earned a decent income. This is so family projects, career changes and relationship breakdowns do not interfere.
When you turn 50 you will have a good look at your retirement fund – but if you did not buy a property at that time, did you miss the boat?
This special section brings together experts for their advice, tips and strategies for investing in real estate according to your age. Regardless of your age, however, there is one rule for every decade, according to Paul Wilson, founder of We Find Houses.
"If you want to increase your wealth, you need to have significant control over your income and expenses," he said.
"Your time and money are extremely powerful and you can use them to increase your revenue stream or you can use them to increase the flow of income from you. Everything will depend on the decisions you make along the way. Unfortunately, common sense is not a common practice, and these decisions and actions will ultimately determine your results – so they must be strategic.
"If it is impossible to mitigate all levels of risk, you can certainly minimize it through strong financial literacy and discipline, coupled with a well thought out plan that takes into account your goals, your schedule, your budget and your risk profile. will help you navigate safely through the investment landscape throughout your life. "
Choose your age group and read on …
Invest in your teens or twenties
Investing in your thirties or forties
Investing in your 50s and beyond
Can you afford to buy in this suburb? Find out how much you can borrow
Top suburbs:
Berala
,
sunshine
,
Hebersham
,
alexandria
,
St. Peters
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