If you know what the common mistakes are you can avoid them and save money and time. In this episode, Shaz looks at the most common mistakes made by those new to property investment

Property is one of the most exciting businesses out there with great opportunities

and if you take the time to learn from others mistakes you will be putting yourself on the path to success

Avoiding the common mistakes in property investment can make the difference between success and failure, listen in, and learn how to start successfully

 

KEY TAKEAWAYS

• In property, you need to make sure your decisions are based on logic and Knowledge
• Have criteria that you work to and view every transaction through a business lens
• Objectivity and being analytical is key in successful property investment
• Research is vital so that you understand the market, the costs of refurbishing and how to find tenants
• You can save money buying new properties because of the lower maintenance costs
• Make sure you know exactly what you are buying, negotiating about faults or damage can only take place before the deal is complete
• Does the property have the features and amenities your ideal tenant will want?
• You need to understand what your tenant, your customer wants
• Due diligence takes time but it’s always worth the investment of time
• You need to have a clear investment strategy to be successful
• Low-cost property will usually mean lower returns but are easier to buy, higher cost properties can be harder to find and buy but provide better returns and capital appreciation
• Always try to look at a property from the viewpoint of your tenant

 

BEST MOMENTS

‘Sometimes for all of us the heart takes over’

‘The more experienced you get the better you get as a property investor’

‘If the numbers don’t stack up always walk away from the deal’

 

VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultations he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

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  YouTube.