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Wealth Creation

Many want to build a residential property portfolio; unfortunately most don’t get beyond owning their first home.

Most days of my life are spent helping clients buy property in my role as a director of one of Western Australia’s most experienced buyer advocacy companies – Perth Property Partners.
For the last decade I have been helping investors and home buyers make fully informed decisions about their property purchase.  Many wish they had entered the property market a lot earlier.  I remind my clients that it is never too late to get into property.  Yes, it would have been great to buy when the median house price was only $80,000 but 20 years ago that would have seemed expensive.  My experience suggests that in any market there are always opportunities.  I read recently “The best time to plant a tree was 20 years ago.  The second best time is now.” 

Unfortunately most investors will not achieve financial freedom.  Research suggests that 20% of those who buy an investment property sell in the first 12 months and approximately 50% have sold within 5 years.  Based on the latest RP Data stats 4.3% of those who have resold in Perth within the last 5 years will have made a gross loss from the original purchase price.  However if you look at Australia wide 17.6% of those who have bought and sold have made a gross loss based on the original purchase price.  This very reason is why we provide a service to buyers.  My advice is to find a mentor/advisor who has achieved success in property.  The money for the service should be offset by the outperformance of the property.

View the full article here.

Rob Walker

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