There’s no sugar-coating it. Investment fails leave you feeling anything but safe.
Yet, many an inexperienced investor has gone in all guns blazing without having done their homework. Unsurprisingly, they tend to accomplish little and lose big.
But someone has to do the hard yards so that others know what they should and shouldn’t do. One such someone is Sydney’s savvy real estate investor, Lloyd Edge.
Lloyd went from low-paid freelance music teacher to multi-million-dollar real estate mogul in just over a decade.
So, when it comes to property investment, he knows a thing or two. He knows it literally pays to do some solid due diligence, for one. And he cites several common investor mistakes on their road to financial freedom. Here are 3 of the top contenders:
1. Buying in the wrong location
There are a few key locational factors that can determine whether market values will increase. Get this wrong, and it could mean your property is worth less than you thought in years to come.
2. Having the wrong financial structure
You don’t want to give the banks too much control by crossing collateral. All loans should be stand-alone to prevent one property fall affecting another investment.
3. Using one bank for everything
Expanding your “empire” by putting all your financial eggs into one basket is a risky move. Limiting yourself to a maximum of two properties with the same bank is a better way to go.
Lloyd has even written a book on this stuff. If you want to hear more about his journey, you can find his works online.
If you want to hear more about premium, well-honed property investment opportunities, talk to us! One of our senior consultants is standing by to take you through the steps and set you up with everything you need for financial abundance.
Think of us as your safety belt as you confidently venture into your prosperous future.