Expert Buying Tips For An Investment Property
Every successful property investor knows that buying an investment property takes time and resources to find the right deal to fit their investing strategy. Sadly, according to CoreLogic approximately 2.6 million people or 10% of the current population own an investment property in Australia. Less than 1% of those own more than one property.
However, there ARE investors that have accumulated a substantial portfolio of investment properties that have generated passive income, allowing them to choose to work if they want to and enjoy the lifestyle they desire.
So Property Investor asked 37 of Australia’s top property experts and authors the following question:
'What is your one piece of advice for someone looking to buy property through the buy and hold strategy?'
You’ll be amazed at what these property experts have to say...
Started investing in 1988
Lives: Brisbane, Queensland
Andrew Coronis entered the world of property at 18 when he joined his father’s modest real-estate business in Brisbane. Shortly afterwards, he bought his first property from a customer who came in looking to sell. Later, in 2002, Andrew took over from his father and has since helped the business grow. Today they manage 8,000 properties.
Coronis has learned not to rely too heavily on high-value properties, saying that if the market goes south you’re in trouble. He learned this the hard way during the GFC when he lost a lot of money on some blue chip properties in Noosa. Although his property investing journey has had its ups and downs, Andrew’s overall strategy has remained fairly consistent. “My style is buying and holding and waiting for the capital appreciation, then borrowing on those properties again and using the equity to go and do it again,” he says.
Read the inspiring tips and advice from all 37 industry experts here and discover the best ways you can purchase property using the buy and hold strategy.