3033: 6 Tips for Diving into Property Investments by Elizabeth with The Budget Mom

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 8 February 2025

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3033: Elizabeth from TheBudgetMom.com shares six essential tips for getting started, including assessing your finances, starting with residential properties, and building a strong team of professionals. By staying informed and having a solid strategy, you can navigate the risks and maximize the rewards of property investment. Read along with the original article(s) here: https://www.thebudgetmom.com/tips-for-getting-started-in-property-investment/ Quotes to ponder: "You need to take a look at your finances. Make a note of your expenses, income, and even assets so that you know exactly what you have and what changes you need to make to have enough capital." "One mistake I made with one of my first investments was letting my heart rule my decisions. It turns out; most people want clean and easy." "Part of being well informed includes staying safe. So this means avoiding pesky get-rich-quick schemes because they usually turn out to be a waste of time and money in the end." Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:22.9	entrepreneurs like you. Sign up for your $1 a month trial at Shopify.com slash setup.
0:30.7	This is Optimal Finance Daily. Six tips for diving into property investments by Elizabeth with thebudgetmom.com.
0:41.0	Are you thinking of investing in property?
0:44.7	Investing in residential or commercial real estate can be very rewarding.
0:49.4	Plus, you can get significant returns in the years to come if you invest wisely.
0:55.5	Sounds good, doesn't it?
1:01.6	However, it's no game, and you need to thoroughly understand the market. Stay informed and have your finances in check before you dive straight into it. Here are five lessons that
1:07.7	I've learned working in property investments. Ensure you have adequate finances.
1:15.1	Before jumping headfirst into property investments, you need to take a look at your finances.
1:21.2	Make a note of your expenses, income, and even assets so that you know exactly what you have
1:27.1	and what changes you need to make to have
1:29.5	enough capital. Plenty of successful property investors save up money as they build up a strong
1:35.2	portfolio and invest in properties as the years go by. You also need to be able to understand
1:42.0	your tolerance for risk. One risk includes not being able to understand your tolerance for risk.
1:49.0	One risk includes not being able to get your money out of the investments so quickly,
1:52.4	because property tends to take a long time to sell.
1:57.9	The second is the time and money spent on maintaining and managing your property,
2:01.7	and the third is the chance of your property depreciating,
	...

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