Based on conversations I’ve had with many investors over the past 12 to 24 months, I’ve seen a common theme develop.
And that is how difficult it is to get money from the banks to buy those blue-chip properties we used to prefer, down by the coast.
But, just because you can’t grow your portfolio with blue-chip properties, doesn’t mean it isn’t worth investing elsewhere.
In fact, there are plenty of opportunities out there if you just know where to look.
Here are 3 options for making the most of where the marketplace is now, and where it is heading.
- Follow the market trends
Start by thinking about the trends that are influencing the marketplace.
After all, if you’re having trouble getting finance, I imagine many others are in the same situation.
And that means the bearing capacities are being reduced downwards, with people choosing to buy at the more affordable end of the market.
First home buyers are also very popular right now, so look to where they are buying and what might appeal to them.
It’s important to look for these types of markets, not just the ones you’ve previously invested in.
- Consider major regional centres
If you’ve only been looking at major metro centres, it might be time to consider regional centres instead.
Right now, positive economic factors are influencing small regional centres near those metro areas.
In fact, some have seen double-digit growth in the last 12 months alone.
That’s a market worth considering.
- Think about manufacturing growth
Lastly, I’d like to suggest you think outside the box a little.
Instead of waiting for growth to happen organically, you could start manufacturing it now.
Perhaps you could buy a block of land and subdivide it.
Renovating an existing property or adding a granny flat might be another option worth considering.
These types of strategies can be used to help generate the gains you’re looking for, but that the market isn’t providing.
So, consider investing in properties on the more affordable end where the markets are strong, or manufacturing growth in your existing properties and you could soon see your property portfolio grow.