Are you planning to purchase an investment property?

If you’re looking to invest in property and build wealth over the long run, you need to know a few do’s and don’ts. Mr Rasti Vaibhav, the author of a book on property wealth explains what one must consider before venturing into the portfolio building market.

You might be thinking to invest in the property Source: Supplied / Rasti Vaibhav

Key Points

• A strategic Plan is needed to build a property portfolio
• A thorough research is needed before buying
• A professional help to build the portfolio is advised

Speaking with SBS Hindi, author of the book ‘The Property Wealth Blueprint’ Mr Vaibhav discussed why many real estate investors fail.

He told sometimes people aspiring to build a portfolio miss having a clear plan and a goal to reap the fruits of investment.

“You must have a strategic plan. Remember the saying, ‘if you fail to plan, you plan to fail’, so a plan is a must. Once a plan is mapped out, the next step is the execution i.e how to reach your end goal.”

Rasti Vaibhav Credit: Rasti Vaibhav

Mr Vaibhav added, often investor buys a property without research and a plan and later wonders why it hasn’t turned out into a wealthy result even after many years.

“One has to take this portfolio building like a business,” he explained further.

He also cautioned not to get trapped into the wrong hands by tempting offers of the agents like lower commission rates or maybe not even charging any fee while hiring a professional to guide and to maximise the chances of success.

"Always verify the credentials. Be wary of hiring someone who doesn’t hold a license. Check the agent’s record and also if the agent is a dedicated professional." advised Mr Rasti Vaibhav.

DISCLAIMER:We would like to inform you that the information expressed in this interview is of general nature. This information may not be appropriate for your personal circumstances - contact your real estate agent or advisor for clear advice on your situation

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