This week on Ask Kevin Young, Roxy and myself give a short and sweet answer to the big question of choosing where to invest. Of course, some areas are going to give a better return than others, but is it smarter to risk a large investment in a booming area or to look for a more affordable property somewhere else?
This is a subject I go into a lot more detail about in my upcoming book. My advice is that all areas across Australia have a good time to invest and a bad time to invest. The good time to invest in an area is when no one else is!
This is probably the opposite of what you’ve read or heard from other places. But doesn’t it make sense to invest before property prices become too high for your budget. Sydney for example, is booming but most people have been priced out of the market. There is no longer enough growth to support the demand.
Bad areas to invest in include most of regional Australia, simply because there is less demand in those areas. Property in close range to mining areas aren’t a great investment either, again due to low demand. Fewer people live permanently in these areas and therefore fewer people are looking to buy property there. If the population of an area isn’t rising the demand for property there is not going to be high.
The most important piece of advice I have for this question is, don’t put all your eggs in one basket. Invest in different areas across Australia, that way you will be more likely to have property in a booming area. Diversifying your investment areas is a good way to make sure your properties are going to give you a return on your investment.
If you need more information to join the club or see your mentor today to get started, Click Here.
I’d also love to hear what your thoughts are on the topic, leave a comment below.
Would you like Kevin to answer one of your questions? Click on the button below to Ask Kevin Young your question.
Also, you can listen to our episodes on the go, just head to the iTunes store.
Share The Latest Episode of Ask Kevin Young