Why Buying Property Like a Pro Is Not As Simple as 'Location, Location, Location'

January 7, 2019

The 3 golden rules of property, we’re told, are: location, location, location.

Sure, location is important, but I would argue that doesn’t quite cover it. To ‘location’, I would add: ‘timing’, ‘strategy’ and ‘knowing your numbers’.

Even the best property in the best location can be a bad investment if you’re forced to sell at a bad time.

Investors who haven’t done their sums and created a strategy to withstand changing conditions are the ones who tend to end up in that position.

Knowing your numbers includes understanding the property’s rental yield and the size of any top-up required to cover the difference between rental income and mortgage payments. It means knowing you can continue to afford that top up when interest rates rise.  It means having a buffer that could cover that top up for 2-3 years if economic conditions or your employment situation changed.  It means understanding the area’s projected population growth and prospects for capital gain.

By extension, knowing your numbers is about knowing your retirement number and what the shortfall is between what you’ll need and what you’re on track to have (most of us have a shortfall!) It’s about understanding your own situation, what you’re aiming for and having a strategy to ride out whatever the market delivers, so you can sell on your own terms.

I’m just getting started here – there is a lot you need to know in order to buy property like the pros do.

That’s why enableMe has launched Buy Property Like a Pro – a one-day workshop to get you retirement ready.

This workshop will not only give you the lowdown on all you need to know about investing in property – it will be tailored to you and your unique financial situation, ensuring you know your numbers intimately. Securing a ticket involves confidentially providing us with some key information to enable our financial advisors and wealth coaches to provide analysis of your situation, your retirement needs, savings gap and capacity to fill that gap through property investment.

The workshop will assist you with how to plan for the ‘what ifs’ and will help you determine when you should buy, where you should buy, what you should buy - and what you should avoid.  

For those who are ambitious, we’ll give you off-market access to properties which have met our strict assessment criteria, and your financial requirements. We then do all the heavy-lifting through to settlement and securing tenants.

This is a unique opportunity to get access to all the financial advisors, wealth coaches, mortgage and tax experts from leading personal financial coaching firm, enableMe, in one place at one time – making the process of sorting your retirement as painless as possible.

Dates are available in May, June and August - buy tickets here

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