Shannon Davis is Director of Metropole Property Strategists in Brisbane and as a successful property investor and licensed estate agent, his years of industry experience helps his clients maximize the performance of their investment properties.
He is a regular commentator for Michael Yardney’s Property Update.
Property is a brilliant asset class for creating wealth – so why aren’t more of us doing it? Personally, I’d be more afraid of relying solely on savings and superannuation as a long-term strategy – especially when there are so many ways to mitigate risk and generate excellent returns.
Different seasons affect our moods (for better or worse), our choice in clothes and even our tastes in food. In much the same way, the seasons affect the rental cycle – which can mean the difference between your property being quickly snapped up, or lingering vacant for weeks on end.
It’s highly likely that you’ve heard about the concept of rent-vesting, but do you know what it actually takes to succeed with this strategy?
Some of the people doling out this bad advice do so because they are trying to sell a lemon and sometimes it is because they simply don’t know any better. Here are some of the most common examples of bad advice that property investors hear time and time again.
When you put a property up for sale with tenants in it, there are some potential risks that simply aren’t there when you’re selling a vacant home. If your tenants don’t co-operate with the real estate agent, or don’t make any attempts to clean before inspections, it can seriously hamper the sale process and ultimately, impact your profit.