4 Tips for a Strong Property Investment Plan in 2024!

I completely understand – the Australian property market can feel like a daunting place…

Especially for women new to the idea of purchasing or investing in property.

The uncertainty, high stakes, and all of the technical bits and pieces, like loans, taxes and insurance can make for an experience where things seem too difficult to try. Not to mention how busy life is in general – it can definitely make things feel pretty overwhelming.

With anything, it’s that first step, when you’re unsure and lacking the knowledge and confidence, that’s always the trickiest to take.

We’ve all felt like this before – the stress and anxiety surrounding jumping into something new. Maybe it was an investment, a new business, or even a new relationship! Sometimes it can feel like too much.

We can all feel out of our depth sometimes, it’s only natural. BUT, the best way to ensure that we’re confident and ready to take a step in the right direction, is to have a PLAN – especially when it comes to property.

Having a strong plan for your investment journey gives you the peace of mind to be confident in your direction and steps.

To make the most of Australia’s property market, it’s important to have an effective, strategy-focused plan – keep scrolling for our top 4 tips!
 

1. Adding Equity

   
   Find confidence!
   
   This is the single BIGGEST piece of advice that I can give!
   
   As I’ve already mentioned, taking the first step, no matter what it is, is often the hardest. Uncertainty and lack of knowledge are major factors stopping us from taking action in our lives, and it’s no different in the world of property investment.
   
   Confidence breeds action.
   
   And do you know what action breeds? MORE action.
   
   That first step might even be as simple as reading this blog, and checking out our Instagram. No matter what it is, putting yourself in the space to learn and grow, will position you to achieve your goals.
   
   So, don’t be afraid to jump into the situation to kick your goals and set a strategic plan in place. Be confident, take that first step – you’ll be surprised how great it feels and the results that will come!
   

 

2. Identify YOUR specific goals!

   
   What’s the key to an effective plan?
   
   Goals!
   
   And they need to be your own – make them unique and specific to YOU!
   
   Funnily enough, as investment property experts, we frequently see people coming up with small goals just because they heard someone else do the same thing. Maybe it was a friend that said that they want to purchase a couple of properties down the track.
   
   If learning about the goals of others leads you to action, that’s SO great! But, just make sure you ensure that you create goals that are your own, and realistic to your circumstances – because what good will come from copying someone else?
   

 

3. Have measurable targets and direction

   
   The next key thing to ensuring your strategy is set up to be productive, is the idea of having measurable targets.
   
   This combines perfectly with the notion of having goals that are unique to you – pairing together like a beautiful sauv blanc and some brie!
   
   Measurability promotes specificity. Specificity toward your goals, direction and planning.
   
   It’s easy to say, ‘I would LOVE to own 4 investment properties by 2030’. But is that specific and measurable?
   
   Kinda, but Nope!
   
   Think more along the lines of implementing values and measurements within your goals. Instead, you might say something like ‘Ok, my plan is to own 4 investment properties in South East Queensland by 2030, 2 of which I’d like to build on new land and spend around $700K each, and the other 2, around $800K’.
   
   That makes things so much more REAL. It’s a measurable target to work towards and has a specific outcome. Keep this in mind when thinking about how you want to build your investment plan!
   

 

4. Get some professional and impartial advice

   
   In any specialised field, we’re always best off when gathering expert knowledge and understanding.
   
   We don’t go to our friends for high-end medical advice, and we don’t ask our uncles and aunts to service our cars. It’s the same with the property market – the professionals are there to ensure that you’re heading in the right direction with your goals and ideas.
   
   You might be thinking ‘Thanks, but you’re just trying to sell yourself!’. But, at the end of the day, I don’t mind where your expert advice comes from, as long as it’s from someone you know you can TRUST.
   
   Trust is the key to building a plan centred around success. Trust yourself to have the understanding and confidence to make decisions that are right for you, and trust those around you to help you support YOUR goals.
   
   I stress YOUR goals, because often, I see people giving advice with the desire to gain on their end. It might be a builder telling you to buy in a specific area, or a real estate agent that only knows a couple of blocks in their town. Ultimately, impartial advice works to gain insight into all available options, seeking the best outcomes for your unique situation, strengthening your plan along the way.
   
   No matter your situation – in a relationship, divorced, single, or anything in between, you can always take the next step in your property investment journey, without relying upon anyone else.
   
   If 2024 is your year for growing and taking that next step forward in life – we’ve got your back!
   
   At InvestHer, we’re here to put the power in your hands! We’re here to give you the support, guidance and tips you need to make things work for YOU.
   
   Want to talk more about building your dream property portfolio through strategic planning?
   
   Book in your free initial call HERE or give us a call on 0422 991 086 to speak to our team!