Investing in a residential property requires a long term commitment.
Given the amount of money involved, you must carefully choose your investment aims, so that they match the time you have available to achieve them.
Those who plan for investment success generally succeed and avoid the common pitfalls. Those who rush in without an investment strategy, are likely to be disappointed with their results.
Treating your residential property investment activities like a business is the secret to success. Treating property investment as a business, will require you to put a plan in place, that acts as a road map that you can follow to become a successful property investor.
A basic plan is all you need to get started. You can revise and improve your plan as you gain more knowledge and experience in the business of property investing.
Completing a plan will see you thinking about the key questions that you need to ask yourself and answer, before you take the first steps towards building wealth, via the purchase of an investment property.
You plan will reduce the chances of running into common pitfalls that those who fail to plan often face.
It is important to commit your plan to writing. The plan then becomes a living thing that you continually review and update.
If you would like help to create your property investment plan, please book your free "How to Succeed in Property Investing" meeting.