More than 20 years ago property guru Jan Somers bought a property that led to her becoming wealthy.
She had a simple philosophy based on a straight-forward technique – buy what you can afford, wait until it goes up in value, refinance the property and use the extra equity as the deposit for the next property, then repeat the process.
Ms Somers, a former teacher, attracted crowds throughout Australia who flocked to hear her uncomplicated message that holding real estate can make you rich. She wrote a book explaining how she turned a modest income into a financially-free future, and thousands of people followed her lead and they became wealthy, too.
For those of you looking to get a deeper insight into the investment potential of Sydney’s suburbs, check out my free Monthly Marketplace Suburb Report which you can now access through my Facebook page.
This is more than just a suburb overview you can download from regular property websites. This Report compiles research from a number of industry sources and includes future growth rates, demographics, rental yields, schools in the area and information that the general public rarely has access to.
Buying property cheaply isn’t about ripping off unsuspecting sellers or finding a never-before-seen, too good to be true deal. Professionals make money from property by understanding the market and knowing what to buy.
It’s true that buying a property for less than market value does make you money, but as you can only buy the property cheaply once you will only make a profit once. A property in a bad area may be priced cheaply but if no one wants to buy or rent it from you, there is little chance of achieving significant capital gains.
If so, why not come and join us for lunch as we discuss being an entrepreneur, managing investment risk, getting out of your comfort zone and becoming time rich. it's on Friday 24th August 1pm - 2.30pm in Sydney CBD
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There are many reasons that the Sydney property market makes good, strong investment sense and while long-term capital growth is a given, right now, rental yields are also going from strength to strength.
With tenant demand increasing for apartment living, especially closer to the CBD in established areas, Australian Property Monitors posted a 4.4 % increase for unit rents in the June quarter. Add to this that there are not enough new dwellings being built to keep up with local demand and that created by immigration and there’s no reason that this trend won’t continue.