Being financially ready for when the unexpected occurs
A financial buffer is one of the best decisions that you can make as a property owner to avoid any unnecessary headaches. Or at least that seems to be what has worked for property investor Andrew Scott.
In this episode, Smart Property Investment’s Phil Tarrant sits down with Andy, who shares one of those potential headache scenarios from his time investing. When a bill that should have been around $800 ended up costing more than six times that amount, Andy was able to effectively manage both his funds and stress levels, sharing now how his prior planning made that a possibility.
Andy shares what he sets aside for each of his three properties as a way of minimising risk, and just how and when that money should be spent.
The pair will also cover the benefits and challenges of investing interstate, whether property yield should be a main deciding factor when purchasing a property, and answer some questions for those looking at using a property buyer.
Make sure you never miss an episode by subscribing to us now on iTunes!
If you like this episode, show your support by rating us or leaving a review on Apple Podcasts and by following Smart Property Investment on social media: Facebook, Twitter and LinkedIn. If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!
RELATED AREAS OF INTEREST:
Eight common investor mistakes eating into your wealth
Time and effort: What makes a good buyer’s agent
Why you should invest in multiple properties
More from this writer:
-
How this investor plans to achieve financial freedom by the age of 35
-
Amsterdam, London and Australia – How this investor has built an ‘accidental’ portfolio
-
The one move that could save you thousands during the COVID-19 pandemic
-
Get your questions heard on The Smart Property Investment Show
-
How house-sitting got Amy Hamblin started as an investor
-
How ‘cheeky offers’ have paid off for this investor
-
PROPERTY SHOWCASE: A property management alternative and a special offer