This week on Winning In Life, Angus Pryor the #1 Google-ranked dental marketer in Australia will be sharing with you my 3 best property tips, the 3 things that I’ve learnt from doing a lot of property investing.
Three things I learned about property investing. Now look, before I tell you what are the three things I’ve learned in property investing, let me just be super clear. I’m not a financial adviser or anything. I have done a lot of property investing personally. But you know, all those disclaimers, if you take my advice, it’s down to you.
However, I have done a lot of property investing. And so people have often asked me, What are the three things that I’ve learned. And so the first thing I’d say is ugly houses make money. Now, if you want a trophy house like this one, or if you can see, it’s a very nice looking kitchen, and that’s fine, like living there and whatever. But generally speaking, I’ve found that these sort of beautiful looking houses often don’t make nearly as much money as the ugly ones do. So that would be my first piece of advice.
My second piece of advice is though, having said all of that, if you find yourself looking to buy a place to invest, and the pricing makes sense, look for somewhere, wherever possible, it’s got positive cash flow, that generally means you’ve got to go a bit regional, you won’t usually find that in the capital cities in Australia.
But if you can go to a regional area, for example, I’ve had some properties in Tasmania in Launceston. I mean a town of 100,000 people. And I’ve been getting sort of 6 or 7% rental yield at a time when the interest has only been costing me two or 3%. So that can work really well where it’s not costing you that cash flow, but then hopefully you get some capital growth.
And then I think my third piece of advice, quite frankly, is to get hold of a good property analyst. And there’s a guy I’ve been dealing with called John Lindemann, I guess. And frankly, I’ve taken his advice many, many times. He’s a columnist in one of the property magazines, and unlike a lot of people who are selling you stuff and promise all sorts of things, I found this guy to be excellent. So you know, all disclaimers aside, but, you know, based on my experience, those are three things that work really well in property.