IN THIS ARTICLE
In fact, the latest ATO data shows that 71.5% of investors only own one property, and that drops dramatically to 18% owning 2 properties and just 9.7% owning 3-5 properties.
Why is it that so many investors never get past their first investment?
Here are 11 reasons why there aren’t more property moguls…
1. They don’t have a strategy
Investing may be simple, but it’s not easy and that’s not a play on words.
I’ve often said property investment is a game of finance with some houses thrown in the middle.
So, when it comes to building a substantial property portfolio, a time-tested, proven property investment strategy is critical and part of that is having a sound financial strategy.
Without a property strategy in place, your property investment will lack direction, and the wrong investment decision will be made at the wrong time and for the wrong reason.
How to overcome this obstacle:
Investors should ensure that they have a solid, time-tested strategy in place, know what their ultimate goal is, what stage of the journey they are at and the type of property that suits their risk profile, their strategy and their cash flow requirements.
All our clients at Metropole understand how important having a strategy is, and, with our help, all have one in place to help keep their investment decisions on track.
As a result, they don’t get distracted by the latest fad or idea and they are able to avoid distractions.
They have risk mitigation strategies in place, own the right properties in the right entities and have financial buffers in place to ensure that they can ride the market as it goes up and down through each cycle.
As a result, when it comes