It is often said that real wealth with property comes with time. You are more likely to succeed if you take the long-term approach to accumulate
both cash flow and capital gain over time. Which is why it is so important for any investor to build a strong investment team, not just for now,
but for the long term. The goal here is for all the elements of your team to come together like a well-oiled machine over successive properties.
By working out and almost duplicating the formula for successful properties, you eventually arrive at your ultimate investment goal.
So, what makes a dream buy-and-hold team? There are three crucial parts to consider:
1. Your Money Team
Many newbie investors mistakenly assume the first step of property investing to be buying. Hang on a sec. Before you pour
over TradeMe listings, get your access to finance sorted. Beyond the obvious reason that you need to know how much you can afford to borrow,
the last thing you want is to get the reputation as a tyre-kicker if it is shown that you cannot close deals. Falling short at the last minute
because you can’t fund your promise to buy is a surefire way to get off your agent’s roller deck. You may as well kiss goodbye to future opportunities.
So get your money sorted first. There are two elements to your Money Team. The first one is your banker/broker. You got to be
able to borrow the money. So find a banker/broker who understands your goals and is willing to stand behind you for the long term. You
want someone who shares your vision for your future self and with their industry experience, map out how you get there....
