7 secret “P”s to succeeding in property investment in Papua New Guinea

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You can read as much as you want and you can plan as long as you want but if you can’t put any of this to action, it can turn out to be a waste of time.

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  1. Property

Why choose property as an area to invest your hard earned cash? Property is a proven growth area that can, if done correctly, grow your wealth.

  1. Plan

If you want to get into the business of property investment, you’re going to have to plan.  Planning is the critical starting point.  Whether it’s planning to save, planning for finance or planning to build, planning is the starting point in property investment.

  1. Participate

You need to participate in knowledge building.  Knowledge is a key element in property investment because it empowers you to make an informed decision.  It prepares you for the choices you will be faced in the future.  This may be the type of finance you need, the areas you need to investment in, the type of properties you need to buy, knowledge is essential.  Participate in knowledge building whether it is reading about it, talking to people about it or attending workshops on property investment.

  1. Persist

Property investment can be frustrating.  It can bring you to the point where you can’t handle the frustration that goes with it.  Frustration usually can get to you especially when you’re seeking finance.  In PNG, obtaining a loan is one big task.  Depending on who you’re dealing with, loan officers can put you off.  But if you’ve planned well, your numbers add up, don’t give up, persist, persist, persist on having your finance considered on its merits.

  1. Patience

Property investment is not a get rich quick scheme.  It takes time for you to build your investment portfolio, it takes time for your property value to appreciate. It takes time to add and manufacture equity. Patience is a key factor to realising the full benefits of property investment.

  1. People

During the course of your property investment journey, you will need the services of various professionals.  Whether it be an architect, finance broker, accountant, builder or valuer, surrounding yourself with people you trust and people who have the knowledge to help you in your journey to becoming a successful property investor is critical. Act on wrong advice and you could see your portfolio fall before you’ve even started.

  1. Put it to action

You can read as much as you want and you can plan as long as you want but if you can’t put any of this to action, it can turn out to be a waste of time.  The quicker you can action your plan, the more time your property has in growing in value.

Looking for investment properties?  Check Hausples.com.pg

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