If you’ve been staying up to date with our blogs, you’ll remember a blog I wrote towards the end of 2017 on ‘5 Tips to help make property investment your New Year’s resolution’. We discussed the importance of setting yourself new goals to work towards, and the powerful wealth-creation tool of compound interest. I advised readers of MY top 5 tips to help make property investment a new year’s resolution, and I do believe both seasoned investors and those new to the property market can definitely benefit from these pointers (If you haven’t already, be sure to go back and check out that blog here). So, we’re a week into 2018, but where are you at with your finances? What have you decided to do better this year, to ensure you meet your new year’s resolution? The first of my 5 tips was to ‘Get Saving’. Getting a handle on your expenses, cost cutting, and budgeting are all crucial parts of the property investment game. So, if you haven’t already, be sure to think about where you spend your money. Are there any opportunities to cut costs? Is that unused gym membership really worth keeping? Further, by budgeting your funds and getting a handle on your expenses, you are actively working towards your goal of securing your first property, and dropping bad spending habits along the way. A tool that we use is a free budgeting tool available here. Another one of my tips discussed was to ‘Capitalise on Low Interest Rates’. This refers to the idea of locking in a fixed rate or splitting your loan between half variable and half fixed, furthermore capitalising on current historically low interest rates. Generally speaking, I would not recommend fixing interest rates, but given the current extended period of low interest rates; this is a good time to discuss with your broker if it’s the right choice for you. Fixing rates also helps with budgeting as you know for sure what your repayments will be. In my last blog, I also drew attention to the element of risk attached to the property investment game. I discussed the importance of doing your own research, and gaining a solid understanding of the property market. Calla Property’s research methodology is extensive and we share a lot of information through our website and blogs. We share these on all our social media assets, so if you haven’t already, please ‘like’ and ‘follow’ us on Instagram, Facebook and Linked In to stay up to date with the latest research and recommendations. Our research uncovers potential growth areas and suburbs and property types that will have good rental returns. Most properties we recommend are cash flow positive because our research in these areas is so strong. Paralleling to this idea of conducting research, is another one of my 5 tips; ‘Seek Advice’. It is of immense importance to seek advice, and build a team of trusted professionals around you, to assist in all aspects of the purchasing process. It isn’t as easy as passing on all financial control to your accountant or mortgage broker; rather, it is best to seek advice from an expert who extensively understands the market, as well as your personal financial position. It is also vital, to be aware of people who are not necessarily looking at your best interests (like real estate agents who work for the vendor or buyer’s agents who aren’t qualified to give investment advice). At Calla Property we help you to create your very own ‘wealth creation team’ of trusted advisers whose primary focus is to ensure your success. We consider both where you’re going, and where you’re at; in matching you with the best investment property for your investment goals. We want our clients to be able to create their future security and grow their wealth based on our research and the properties we've put through our research methodology. So what do you have to lose? Contact us on (02) 9016 2852 today to book in for a Discovery Session, and let us help you keep to that new year’s resolution!