Show Notes
The link's Paul mentions during this episode may no longer be available*
Are you making these 5 property mistakes?
Let’s get real about what could be holding you back!
Share with someone who needs to hear this!
1. Falling in love with a property instead of the numbers. Emotional buying can cloud your judgment. Remember, a nice kitchen won’t pay the mortgage! Focus on what matters for rental purposes and the property’s end use.
2. Ignoring hidden costs. Stamp duty, legal fees, and ongoing maintenance can sneak up on you. Set aside 5% of your rental income for maintenance and voids. Trust me, it’ll save you from unexpected costs down the line!
3. Buying in the wrong area for the wrong reasons. Don’t let postcode reputation steer your investment. Look at the data. Is there tenant demand? Are the rental prices strong? Always prioritize local supply and demand.
4. Skipping the hidden numbers. Guessing doesn’t work in property! Use proper analysis methods to run your numbers and avoid costly mistakes.
5. Trying to do it all alone! This is where your problems can start. That and scrimping on your power team quality.
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