Elders Lifestyle Group | Magazine June 2022

WEA LT H Be patient, and invest in one property at a time.

Once you have bought your first property for investment and I would never tell you to buy another 10 of them straight away. Let’s say you buy one at $450,000 and already know how to add value. You can renovate and increase the value to $500-$550,000. You are creating equity and that incremental $50,000 -$100,000 is a good time to buy again.

Your second property purchase might be after a 2-3year period and a higher cost as the market has moved up. Stay in your lane and spend $500,000. Now you have 2 properties.

The first one you bought for $450,000 is now worth $600,000. You have built a $150,000 equity gain.

6