3 Things Smart Investors Do At The Turn Of The Financial Year

Real Estate Property Investments
Being Savvy at the Beginning of the Financial Year

Barb Johnston Which White

Fresh Paint Works Wonders on Real Estate Property Investments

As the end of the financial year approaches, there is usually a mad panic to get the ‘house in order’, make sure what needs to be claimed has been accounted for or look to purchasing before the 30th June deadline.  Now that the new financial year has begun, many property investors are beginning to ask themselves the usual questions of “Do I buy more property this year?”  “Is now the right time to invest or should I wait?” And one of my all time favourites, “What should I do to get the most out of my existing investment properties?”

For years I have had clients seek my opinion on the above and as a professional real estate agent and property investor myself, I have come to find that tax time is definitely the time of year where investors start to make serious plans for the future.

The turn of the financial year is often a time of year that brings about action. Sellers decide to sell and buyers make firm commitments to buy. Accountants are busy preparing tax returns and property managers are taking calls and answering queries about financial year statements that were issued to their clients at June 30.

Amid all this hustle and bustle, the organised investors are making appointments with their advisors to plan ahead and map out the next round of decisions that will either make or break their investing career.

Now I’m not a financial advisor, nor am I an accountant but as a personal property investor myself, I have come to learn many of the ins and outs of investing, and what investors should do to make the most of their investments.

When it comes to investing habits, here are some good ones to adopt.

  1. Create An Action Plan With Your Advisor

As I mentioned above, smart investors sit down with their professional advisors and future plan. That is, they come up with a strategy that meets their investing criteria and goals, and then they go on to implement it.

  1. Make Improvements To Your Investments

Secondly, the most successful property investors I have worked with look at how they can improve their property, add value and hence increase equity. They might hit the go button on the renovation they’ve been putting off, or take the opportunity to do minor upgrades that will increase the rent, such as install air conditioning, freshen up paint work or floorcoverings or upgrade kitchen bench tops or bathroom vanities.

  1. Review Your Investments

Finally, savvy investors take the new financial year as an opportunity to review their investments as a whole. They might look at the current lease terms, rent and expected sale value of their properties. This usually involves a discussion with their property manager about the existing lease and whether or not a rent increase is achievable and viable under the terms of the tenancy. These investors request up to date market appraisals on their properties to see if they have increased in value and also to form a basis for decision making moving forward. An increase in equity could be their ticket to expanding their portfolio and buying more property.

The common denominator here is forward planning.

Having a plan when it comes to property investment in absolutely crucial if you want to be a successful investor and build not just any property portfolio, but one with high performing investments that will get you to your goal of financial freedom quicker.

Essentially, the smart investors treat it like a business and as with any successful business operator, setting goals and planning the year ahead typically tops their list of must do’s.

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Telephone: Call Barb on 0412 765 041

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