How to Invest on a Small Income

HOW TO INVEST ON A SMALLINCOME Be patient. This strategy needs to be done with the' right attitude and consistent effort. No matter what the size of your investment you need to be patient before it can bring you yields. Create a saving plan. Be a steady saver. Establish a weekly saving pattern; put a set amount or a percentage of your money into savings account that will earn interest. Buy an investment within your budget. You can start your investment small. One method is to reducě the amount of stamp duty you pay by purchasing a house and land package. You don't need to büy the biggest investment just because YOU CAN ÅFFORD IT. Begin with a plan in mind. Know what you need to establish and the financial position you need to be in before you buy your ówn property investment. HAVE A PROACTIVE PROFESSIONAL TEAM. SOME OF THE ADVISORS WORTH HAVING ARE. An experienced A specialist mortgage broker. consultant with Investment Properties - like Properties 4U. A qualified risk' advisor. A proactive property manager. A competent solicitor or conveyancer. A positive accountant. Combine resources with a trusted friend or family member. A joint venture with a friend or family member căn help you get started faster. Sharing with the deposit and purchase čosts means you need less savings up front, plus your joint incomes can increase your ability to borrow more, affording a better investment property. Ensure that you are fully protected when buying through a joint venture, here is a list of some things to consider in a joint venture agreement. Ensure you have sinking fund that will cover repairs and other fees. Confirm who has responsibility on specific roles. Make sure that management of insurances, taxes and repairs are clearly stated. % Agree on the consequences if Know what percentages of ownership you will each'have. Agree on the time period of holding, the property and what will be done after. one wants to leaves the joint venture agreement. Know the cash flow of the property. When you start your investments make sure that you find soměthing that is manageable within your cash flow budget. Don't just jump in on any property, know the expected cash flow of a property, both before and after your tax, before purchasing. Managing your cash flow is the key to achieving'your long term investment goals. WANT TO SECURE YOUR FINANCIAL FUTURE? CALL US NOW FOR EXPERT PROPERTY INVESTMENT ADVICE! Phone Number: +61 8 7071 8000 Email Address: [email protected] Website: http://properties4u.com.au Properties4U inspiring wealth creation