Our passion is turning dreams into reality. It can feel daunting or stressful to kickstart the next stage of your financial journey, but it doesn’t have to be that way! If you want to navigate the property market with confidence, we can’t wait to help you in any way we can.

Regardless of whether you’re just beginning your property investment journey, or you already have a couple of properties under your belt, it’s never too late to get on the front foot and set yourself up for success.

Let’s explore some common investment mistakes, and why/how you should avoid them!

Mistake #1: Buying the Wrong property

There are many types of properties available (unit, townhouse etc.). It’s imperative that the property you purchase aligns with your goals and objectives, as well as your personal circumstances.

Potential consequences of buying the wrong property:

• Can be costly
• Can present roadblocks in your journey that delay your achievement of financial freedom

Mistake #2: Buying Properties in the Wrong Ownership Structure

A property ownership structure defines who owns a property. The importance of choosing the right ownership structure for your property can’t be overstated.

Note that there’s no ‘one-size-fits-all’; what works for you entirely depends on your personal situation. It’s actually likely that investors with large portfolios utilise multiple ownership structures. If you want some support to understand the types of structures, check out our blog on that very topic! Also, keep an eye on our Property Seminars webpage, as we do host an Ownership Structures seminar that will help you.

Potential consequence of choosing the wrong ownership structure:

• Can’t be changed unless you sell the property to another entity (incurring stamp duty and capital gains tax)

Mistake #3: A Lack of Strategy/No Strategy

Like any investment vehicle, the right strategy will help you achieve your goals faster. But copying the successful strategy of someone else is as good as having none at all! Why? The most effective strategies are tailored to your specific needs.

But how do you know which strategy is right for you? Our top tip is to get in contact with our Property Investment Experts and we’ll help you form a strategy that considers your goals, circumstances and lifelong dreams.

Potential consequences of a lack of strategy/no strategy:

• Delaying your financial freedom
• Time-wasting by failing to identify which properties can best serve you
• Making purchases that don’t contribute/contribute negatively to your goals

Mistake #4: Procrastination

Unfortunately, this mistake is one of the most common our experts see. While this may sound simple, procrastinating the next step of your investment journey (whether that be purchasing your first, or even your third property) can be a dealbreaker in terms of you building the portfolio you need to achieve your dreams.

Potential consequence of procrastination:

• Delaying your financial freedom

If you’re feeling stuck or overwhelmed on your journey, we’re here to help! There’s nothing more important to us than supporting you in taking positive steps towards a brighter financial future.  Don’t hesitate to reach out to us at Rise High Investor if you want help avoiding any of these mistakes.

Today is the perfect day to begin the journey to your financial dreams!