Warwick Brookes – Buyers Advocate

The first thing you need to give thought to is a plan. Why are you investing? What is the desired outcome, and how long do you have to achieve your goal? Our advice, which we give to all our clients, is that your plans should always be for the long term. We are talking a 10 – 15-year period. 15 years as a minimum to achieve an optimal return. Obviously, we’d like you to hold it forever.

Few questions that you need to think about are: why are you investing in property, and why do you want to own a property?

A lot of people just think to themselves, I want to go and buy an investment property. other people are buying investment properties, it’s the right thing to do. Or I want to have that for my retirement. But they don’t stop and think: what do I want to achieve from investing in property?

We don’t want you to rush out and buy a property and not think about the long-term effects. What we want to do with our clients is ensure that the long-term goal is clear. What is it going to look like in 15 years’ time? What is the whole and total picture? What are the goals? What do you want to achieve?

Yes. buying a property to have more money in the future, but why are you doing that? What are you going to do with that money when you have it? Is it to support retirement or to fund a child’s education? To have a successful plan, you need to know what your outcome looks like. Otherwise, you’re just making ad hoc decisions, and when decisions involving hundreds of thousands of dollars are made on the run, you’re guessing. And these decisions will cost you money.

For help and advice with your plan, give me a call on 0412 304 611.