Financial Independence means that the income generated by our assets, exceeds our day to day living expenses.

Many of us will not have sufficient assets when we retire and won’t have a sufficient income for a decent standard of living.

So we have to work to earn enough money to pay bills and hopefully have enough left over to invest in the future.

Until we have sufficient income producing assets, it means we are dependent on someone else, like our employer, for our financial wellbeing.

There are, however, strategies we can adopt that will help us build income earning assets and one of them is Property Investment.

If done properly, Property Investment can provide cash flow and capital gain, therefore providing an ongoing income stream and a cash lump sum when the property is eventually sold.

Here are the Top 10 RealRenta Quick Tips for success on the road to Financial Independence:

• Set Clear Goals & Financial Objectives
  

Set tangible targets on ROI, Cash Flow and Time Frame

• Treat Property Investing as a Business

Structure your business correctly, make sure you have the right resources, knowledge and viability.

• Always seek professional advice

A little knowledge is a dangerous thing, always seek advice from professionals.

• Do your research

Research the market and get as much property data as you can so that you can ensure you are buying in the right place, at the right time at the right price.

• Be patient and Invest carefully

Don’t rush any investment decisions consider what you want and also what your potential tenant will want, and ultimately a buyer.

• Capital Growth is key

Look for properties within 20-30kms from the city and major regional centres and properties with unique aspects like ocean or city views.

• Property Inspections are vital

Inspect your property thoroughly and as objectively as possible and bring in experts for a structural or pest report.

• Cashflow is King

Don’t over commit financially and make sure that you will be able to afford to own, manage and maintain your investment property.

• Avoid Rental Guarantees

Rental Guarantees are often a ploy to entice you to buy. The purchase price is often inflated to cover potential claims under the guarantee.

• Don’t try to do it all yourself

There are costs involved with employing professionals for their advice and guidance but this should be viewed as a way of mitigating your risks and an investment in your education as a Property Investor.

Let us help you reach your goals sooner...Want to Trial ReallRenta for Free?

 Or