Think You Can’t Afford It? Think Again!
The third in our series busting the most common fears that stop people from investing in property is all about money, and the fear of not being able to afford to invest.
Investing isn’t just for rich people! Plenty of “everyday” people in average-paying jobs invest everyday. You don’t need a lot of money to get started in property investing, as I spoke about in Fear Buster #1 (in fact, you often don’t need any). But what about the ongoing costs?
If you’re looking at properties that are out of your price range to run from week-to-week, you’re looking at the wrong ones! Good investment properties with the right characteristics, in the right location, will cover their own costs.
The rent you get coming in from these properties (along with your tax return from their depreciation) will cover your expenses, including the loan interest, property management fees, maintenance costs, and more.
Sound too good to be true? Well, it’s not. You just need to know what you’re doing. Those properties do exist (they’re called positive cashflow properties). If you’d like to find one for yourself, get in touch with me. I can show them to you and make sure you have the right structure in place to ensure you aren’t out of pocket for your portfolio.
So, no matter who you are, or how much money you have, once your property is secured with a deposit, if it is the right one, it shouldn’t cost you anything from week to week to hold. There is NO reason to be afraid that you can’t afford to invest in property. BUSTED!
Daimien Patterson is the CEO of Integrity Investment Properties, a property investment company based in Australia. He regularly produces books, blogs, and videos on the topic of property investing. Head to [integrityinvestmentproperties.com.au] for your free copy of Daimien’s book, Safe as Houses.