When you buy or sell property, you need to engage a solicitor or conveyancer to handle the legal side of the transaction for you.
Some investors opt to do this themselves.
Technically, it’s possible to handle your own conveyancing, but I highly recommend using the services of a qualified professional, who can give you advice and answer your questions along the way.
I’ve met loads of people over the years who don’t see the value in goal setting. I know that many of you may be thinking right now that setting goals is boring, or redundant, or a bit ‘airy-fairy’ – one of those ideas that only really applies to people who like reading their horoscope in gossip magazines.
But here’s the truth. If you want to be truly successful, setting and reviewing your goals on a regular basis needs to become part of who you are.
Q. I am looking to buy my first investment property. I have been told that it is best to buy at the bottom of the cycle and sell at the top. However, someone told me to just buy “on the trend”. What does this mean and how does it affect me?
A.The term ‘property cycle’ is used to describe fluctuating property prices. Until recently it was generally agreed that these cycles occurred over roughly a seven year time frame, however economic instability has meant that cycles are now more sporadic. Property cycles do not affect all properties in all areas in the same way.
As property buyers, there are plenty of strategies you can use to gain the upper hand when you’re negotiating the deal.
Remember, property negotiations aren’t always about price, as some vendors have other priorities they’re more focused on – and you can use this to your advantage.
That’s why I suggest you ask the selling agent a bunch of questions before you make an offer, so you can negotiation from a position of knowledge and power.
Creating a personal budget is one of the single most important steps you’ll take on your journey towards creating real wealth.
Many people make the mistake of thinking that having a good budget is just for those people who need to count their pennies to make ends meet. But they’re wrong: budgeting is for everyone and I mean, everyone!
My experience has been that the more money you earn, the less you monitor where your money goes. And at the end of the week you’re left wondering where your money has gone, because you haven’t been keeping a careful eye on it. Even worse, I’ve picked up on a trend that reveals the more you earn, the less likely you are to save! It sounds counter-intuitive, because you’d think that people with plenty of money would have a great bank balance.
