The Property Academy Podcast 3 Steps to Becoming A Property Investor in 2020 | Ep. 111
Dec 31, 2019
12:51
In this episode, we discuss the three steps to take if you want to become a property investor in 2020. These are:
- Figure out where you are now and then where you want to go. And then look at the resources you have that can be used to help get you there
- Create a strategy about how large your portfolio will need to be in order to help you close that gap and then create buying criteria showing the types of properties that you are going to invest in
- Go out and look for properties that match your buying criteria.
The most important steps are steps 1 and 2. Most people will skip to #3 and immediately start looking for properties. But, this is the wrong approach to take. If you're looking for any property, you're sure to find it. But, if you are looking for a property that is going to make a good investment for you, then it's a good idea to determine exactly what that looks like first.
One step we didn't mention in the show is calculating your mortgage using a mortgage calculator. You can use the calculator on the Opes website to calculate your future mortgages.