Want to become a better property investor in 2018? If the answer is yes – and it should be – then now is the time to plan and set goals for yourself.
Here are three to get you started.
1. Assess your mortgage strategy
Every year, interest rates change and 2018 will be no exception. Whether you prefer longer fixed rates, short term rates, interest only loans or some combination of the three, it’s essential you have a strategy that will allow you to access cash in the now and save on costs in the long run.
A broker can help you talk through options and adjust your strategy accordingly.
2. Review your portfolio
Start the New Year by having a look at your portfolio. Are there properties in it that aren’t delivering the returns you expected? Do you see areas you’d like to expand into, such as commercial real estate?
Talk to your property manager about your options. He or she can help you discover ideal opportunities to buy or sell.
3. Study and seek out professional advice
No one was born a successful property investor. To truly realise your potential, seek out professional advice and look for new ways to learn about the industry.
Most importantly, don’t put too much weight in doomsayer predictions. There are always great opportunities for investors in Canberra – you just have to know where to look.