1300 937 277Top 5 complaints of a property investor
Investing in property can be a whole lot of excitement and opportunity, but it can also bring struggle, regret, or feelings of doubt.
Property investing is seen by many as a way to secure one’s financial future, but with statistics showing that 50% of property investors sell up within the first 5 years, where are we going wrong?
If you want to avoid having the same regrets as investors before you, check out our top five complaints from property investors:
Poor cash flow
Not thinking ahead, organising finances or having a buffer in place are all causes for alarm when it comes to cash flow and ongoing management of your cash flow.
Life can be unpredictable, so you’ll need to consider big life events that may stall your cash flow, such as children, and you also need to allow for cash flow to cover any negative gearing shortfalls. Many investors find it helpful to have at least 6 months worth of savings in case they need to access it, even if it is there just for their peace of mind.
Unhappy with property selection
Many investors, for different reasons, end up with buyer’s remorse. This could be because they felt pressured into buying a property from a salesperson or their family, or it could be that they bought in a supposed ‘boom’ town that didn’t quite boom. They may have overpaid, or they may simply be unhappy with how their investment property is performing.
Followed the wrong advice
Everywhere you look there are property advice pieces just bursting to tell you all you need to know to make millions and be a property success. Some advice can be quite conflicting, and confusing – so how are you to know what is right?
Many investors can make mistakes simply because they followed the wrong advice. That’s not to say that all advice should be taken with a grain of salt – but you need to know your boundaries and your desired outcome from your property investing before you start listening to random advice. They aren’t the ones that will have to deal with your financial losses, so make sure you seek advice from reputable property experts, managers or investors. They can help you form your property investment strategy and help you understand exactly what type of property will suit your needs.
They missed out
Too often we see property investors miss out on great opportunities because they weren’t sure about the next step to take, or they’re waiting for the perfect property or the perfect timing.
Property cycles are hard to predict and they often vary greatly between cities and states. By doing your research and by having realistic expectations on the property market and your budget, you can try to avoid missing out in the future!
Issues with property management
Property investors will often to to cut corners or save money when it comes to managing the property with their tenants. Many opt to self manage and quickly come to realise how time consuming it can be. By hiring a good team of professional property managers, you know that your investment is well looked after and generating the best possible rental income for you.
At CPS Property we can help you understand the ins and outs of property investing. Contact us today to chat about your future as a successful investor.