It has been estimated that over 95% of the world’s millionaires have made money through investing in property. It has also been said that the best way to become successful it to find someone who is, and copy what they have done.
With this in mind, once you are aware of the huge potential that property investment has for creating wealth, and have decided that you would like to follow this course of action, how do you know where do you start?
The most important thing you can do is become informed. Learn how to research the property market, so that you will be able to purchase properties that will not only give a good rental yield, but they will also return the best capital growth possible. Read as many investment books as you can. Read auto-biographies of successful people. Learn what they did right, and even more importantly what they did wrong, so that you won’t make the same mistakes. Speak to people who have succeeded in doing what it is that you want to do. The more you learn, the easier it will be to recognise a good investment.
Find out about Negative, Neutral and Positive gearing – and why gearing is such an invaluable tool, which will enable you to build up a wealth base in accelerated time, compared to if you only invested your own hard earned dollars.
Once you have educated yourself and understand why investing in property is such a powerful tool, you will be able to embark on the road to financial security.
In Australia, and many other countries less than 5% of the population reach retirement able to support themselves, without government or family assistance. If you want to be one of the elect who are self sufficient at retirement, then now is the best time to start striving toward financial security.
Debra Lohrere is the author of several books on property investment, creating financial security, goal setting and the power of compounding. Please visit her storefront at http://www.lulu.com/DebraLohrere or homepage http://www.debra.lohrere.com/home.shtml
Article Source: http://EzineArticles.com/?expert=Debra_Lohrere
Sunday, October 7, 2007
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