PHOTO: Are you interested in property investment? Image: Getty
Property investing can be an incredibly successful way to improve your financial standing in the world. However, you have to know what you are doing. What’s more, you have to have a few things up your sleeve before you start making offers.
- Also read: The rise of the female property investor
- Also read: 10 mistakes to avoid on your first property investment
- Also read: Clever property investors don’t pay these 6 fees
Take a look at the essential items in a property investing starter kit.
Property investing for beginners: What you need
1. A big-picture vision
If you really want to succeed as a property investor, you need to have a long-term goal.
Your goal may be as simple as having a fully paid-for second dwelling that you can use to fund your retirement.
You may wish to take a different approach with a view to buying and selling homes for a profit so you can pay off the mortgage on your home and live debt-free.
Your big picture vision may have you as a property mogul with a vast portfolio and a seven-figure income.
No matter what you want, it helps to be clear on your long-term desires so you can make a plan to turn your dreams into reality.
As a female, having a vision like this can be really inspiring. It will motivate you to take control of your finances, stay independent when it comes to your money and to skip impulse purchases in favour of building long-term wealth.
Don’t be afraid to write down what you really want. You could also create a vision board that maps out your journey to financial stability.
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