Planning

You need to prepare for the worst while hoping for the best – to achieve this you need to plan! As an Investor, it is important to make sure that your actions match your intentions. Many people have a general idea of their plans for the future. You might know that you want to own five properties by a certain age, for instance, or that you wish to retire on your property portfolio in 10 years’ time.

To be successful, you need to know the actual steps you should take to turn your dreams into reality, you actually need a plan. If you don’t have one, it’s time to make one! If you do have one, now is the perfect time to revise it. It should be a flexible working document – one that can be changed and updated to reflect changes in your lifestyle and situation – and you should aim to review it every six months or so, to ensure you’re still on the right path. Most of all, it should be tailor made to you and your financial position, and your specific goals so that you can be sure you’re maximising all of the opportunities available to you.

There are many factors that will influence your plan, and they can loosely be grouped under three headings: finance, family and lifestyle.

Speak with the team at FAA Property Pty Ltd who can refer you to one of FAA Group's Consultant who can assist you in determining if purchasing an Investment Property is the right time for you.