In the Spotlight

Warren Lewis caught up with Charles Brittain

What five tips can you give people who are investing in property for the first time?

Property is complex and there are many ways to get involved in investing, so work out what is right for you personally.

Tip 1. Learn, gain an understanding of the many techniques and speak to a property consultant about how to best structure investments for your own reasons.

Tip 2. Treat property investment like a business, work out the maths as it is this that makes the most difference in the long run. Remember, property should be looked at as a medium to long term investment ideally.

Tip 3. Don’t get too personal. If you look at what rents, and where, you will often find it is property that you wouldn’t live in. Equally if you are looking for a property to sell on after adding value look for a ‘deal’ more than what becomes important when looking for your own home. Investing in Pork Bellies because your broker has a reason for them to provide a return doesn’t mean you have to like pigs, or like where they are kept, or go and see a pig farm. If it is the right investment for the right reason, i.e. your desired outcome, then invest.

Tip 4. Don’t over stretch yourself. Greed is very dangerous, overstretching finances or trying to make money too quickly opens up risks. Risks in property can be managed while still showing hansom returns. This is all part of the strategy and portfolio building plan you develop in Tip 1 after learning and speaking to a consultant.

Tip 5. Start! I’m still amazed by people who get analysis paralysis and spend years and years looking and researching and even spending a small fortune going on courses without actually doing any investing. Find a healthy balance. You only start making returns when you invest so remember to act and gain an investment, the sooner you do the sooner you see the benefit.

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