A Series of Unfortunate Events by Lemony Snicket.
I was thinking about the whole Property Investment process.
Are there ways where Investors can lose money whether it's long/short term.
What are some of the pitfalls that are not so obvious.
Like some that I'm aware of are:
-Buying something that one can't afford, hence being forced to sell at a lower price.
-Buying an over-priced property due to lack of research.
-Not insuring your property and the tenant causes major damage to the property.
-Once again, not insuring and natural disaster destroying your property.
Just a quick question though, is it standard practice by insurers to cover all types of natural disasters or should one always read the fine-print to discover what it does cover?
-Decline in property value due to a sudden change in the population demographics (i.e. bikey gangs targeting a specific suburb and its surroundings / increased criminal activity in the area).
-Rise of unemployment? Causing people to possibly look for cheaper alternatives, reducing demand, potential cause to reduce weekly rent?
-Rise of interest rates? (I'm not sure about this, but if interest rates go up, does weekly rates fluctate in line with interest rates?)
These are the ones I can think of at the moment, if you guys can think of others. Please feel free to add...
I was thinking about the whole Property Investment process.
Are there ways where Investors can lose money whether it's long/short term.
What are some of the pitfalls that are not so obvious.
Like some that I'm aware of are:
-Buying something that one can't afford, hence being forced to sell at a lower price.
-Buying an over-priced property due to lack of research.
-Not insuring your property and the tenant causes major damage to the property.
-Once again, not insuring and natural disaster destroying your property.
Just a quick question though, is it standard practice by insurers to cover all types of natural disasters or should one always read the fine-print to discover what it does cover?
-Decline in property value due to a sudden change in the population demographics (i.e. bikey gangs targeting a specific suburb and its surroundings / increased criminal activity in the area).
-Rise of unemployment? Causing people to possibly look for cheaper alternatives, reducing demand, potential cause to reduce weekly rent?
-Rise of interest rates? (I'm not sure about this, but if interest rates go up, does weekly rates fluctate in line with interest rates?)
These are the ones I can think of at the moment, if you guys can think of others. Please feel free to add...