In Australia, property has been one of the country’s most secure investments over many decades. As a result, many people enter into property investing with a ‘can’t lose’ attitude. There’s nothing wrong with optimism, but simply buying a property and expecting it to make you a fortune carries more risk than most people realise.
The costs don’t stop after you buy a property, and there’s no guarantee you’ll secure a tenant to help cover them.
That difference between those who tend to lose or break even and those who succeed at property investing is strategy.
Understanding what you need to look out for before you purchase and having clear investment goals is critical.
That’s where the S.M.A.R.T. approach comes in—helping you set goals that actually get results.
Specific
Know precisely what you’re aiming for. Instead of just saying, “I want to invest,” be clear: “I want to secure a house & land package in a high-growth area with strong rental demand.”
Measurable
Make sure you can track your progress. Think along the lines of: “I want a rental yield of at least 5%” or “I’ll have my deposit saved in six months.”
Achievable
Be ambitious but realistic. Can you comfortably afford the mortgage repayments? Does the location have real growth potential? A solid plan beats wishful thinking every time.
Relevant
Stay aligned with your investment goals. If you’re after long-term capital growth, focus on areas with strong infrastructure plans, population growth, and rental demand.
Time-bound
While all the S.M.A.R.T. tips above are important, achievability is perhaps the most critical. It’s easy to get swept up in the belief your investments will make you millions of dollars. But be careful getting in over your head. You need to cover your debt repayments and all the other costs of investing.
Set a deadline. Whether it’s purchasing your first investment property in 12 months or building a portfolio over the next 5 years, having a timeline keeps you accountable.
At Merritt Property Group, we help investors like you turn smart goals into tangible results.
Ready to take the next step? Let’s chat!