Be careful. There are many tricksters and scams out there promising the world and robbing good people of their life’s savings. We strongly recommend that you check out Neil Jenman’s website www.jenman.com.au. Jenman has exposed many investment scams and offers some excellent advice.
The Real Estate Shop are financial supporters of the Home Sellers and Home Buyers Protection Fund www.hhpf.com.au which was established by Neil Jenman to help those who have been taken advantage of.
Most people feel comfortable investing in something familiar that they can see and touch. Property is a popular choice. Over time property has gone up in value. However, there are many ups and downs along the way. So, don’t believe people who tell you that “You can’t lose”. If you buy in a boom and sell in a bust you will most likely lose. Don’t rely on a quick profit. It may take years. Investment is for the long term.
Always consider “what is the worst that can happen” and in that event will you still be ok? What if it takes time to find a tenant? What if the tenant stops paying the rent or does a moonlight flight? If the rent stops for any reason will you still be able to make the repayments?
Real Estate Agents are generally not qualified to give financial investment advice. Don’t rely on a salesperson’s figures particularly future projections. The Real Estate Shop strongly recommend that you seek professional independent advice. Your accountant may well be a good place to start.