The great thing about property investing is also the one attribute that new investors find most confusing: there are just so many options.
There are dozens of strategies you can use to get ahead; several different types of properties you can invest in; and various personal buying rules you can set to help you reach your goals.
What works for you may not work for your neighbour (and vice versa) because we all have different budgets, risk profiles, mindsets and goals.
That’s why I love sharing my students’ property success stories. It allows other investors to see what’s working for someone else, to see if there are any tips, advice or strategies they could use in their own investing journey.
Our long-time student Karen has achieved incredible things in Victoria’s regional property market.
She has a couple of simple rules to guide her property purchases, which may not work for everyone, but they certainly work for her: Homes have to be positively geared, and they must be located within driving distance of her home in Melbourne, for her to consider adding them to her portfolio.
“The whole point of investing in the country was to make things cheaper and I didn’t want to spend thousands of my hard-earned money on all the costs associated with travelling to inspections and auctions interstate,” she shares.
Read more about Karen’s inspirational story, including the purchase of her “ugly duckling” home in Albury, here. Keep up the incredible work Karen!
Til next time, happy investing!