Press Release: Tips for buying a worry-free investment property

Press Release: Tips for buying a worry-free investment property

A leading property investment group says most investors buy the wrong type of property, resulting in headaches and discouraging them from building a portfolio. Australian Tax Office statistics show 73 per cent of investors stop after one property[1] while the Australian Bureau of Statistics reports that 50 per cent sell their rental property within the first seven years[2].
Kevin Young CEO and founder of The Investors Club, which has helped more than 3300 investors on average incomes build multiple properties since 1994, says: “The most common setbacks for investors are a high cost of repairs and extended vacancies. Both are problems that stem from a bad property choice, costing you not just money but your confidence too.
“Good capital growth is essential. It’s important for investors to be savvy in their purchasing, looking outside their own areas and in markets across the country for areas forecast to have strong growth,” says Kevin.
“A good investment property will also attract quality tenants and deliver strong rental yields. To find the right property, investors need to have a business mind and look for features which would be attractive for a tenant, not for themselves. Buying on emotion is one of the biggest mistakes investors make.”