14 Reasons You Shouldnt Invest In Property
b'ARVE Error: Mode: lazyload not available (ARVE Pro not active?), switching to normal mode\\n\\n\\n\\n\\n\\n\\n\\n\\n{"@context":"http:\\\\/\\\\/schema.org\\\\/","@id":"https:\\\\/\\\\/onproperty.com.au\\\\/14-reasons-shouldnt-invest-property\\\\/#arve-youtube-4sscq7mq7wa659a0b2e69519215764192","type":"VideoObject","embedURL":"https:\\\\/\\\\/www.youtube-nocookie.com\\\\/embed\\\\/4Sscq7Mq7wA?feature=oembed&iv_load_policy=3&modestbranding=1&rel=0&autohide=1&playsinline=0&autoplay=0"}\\n\\n\\n\\nThere are a lot of reasons you should invest in property but it isn\'t for everyone. Here are 14 reasons you shouldn\'t invest in property.\\n\\nThere are a lot of reasons you should invest in property, like being able to leverage your money, get capital growth, get passive income in the form of positive cash flow. But there\'s also a lot of reasons you shouldn\'t invest in property. Here\'s 14 reasons why you shouldn\'t invest in property.\\n\\nHey, I\'m Ryan from onproperty.com.au, helping you find positive cash flow property. Believe it or not, property isn\'t for everyone. And there\'s a lot of reasons why you may or may not want to invest in property. I\'m going to go through 14 different reasons you shouldn\'t invest in property. 5 of which are personal reasons. And then, 11 of which are investment reasons. So let\'s go through the personal reasons first why you shouldn\'t invest in property.\\n\\nThe first personal reason you shouldn\'t invest in property is you don\'t have the money. It\'s a lot more expensive to go ahead and invest in property than it is to invest in something like shares. Shares, you can potentially start investing for as little as $500 or $1,000 to start your share portfolio. When purchasing a property, you\'re going to need at least a 5% deposit. Plus, you\'re going to need to cover a bunch of costs. So, maybe around 10% of the purchase price.\\n\\nIf you\'re looking at a $300,000 property, you\'re looking at $30,000 as a minimum to get into the market. So, if you don\'t have a deposit, if you don\'t have the money to invest in property, it\'s going to be very difficult and you may not want to invest in property. You might want to pursue something else until you do have enough money.\\n\\nThe second reason you should invest in property is that you can\'t get a loan. Now, if you can\'t get a loan for a property, it\'s going to be very hard to purchase one. Properties are extremely expensive. We\'re talking $300,000, $400,000, $1 Million. A lot of us don\'t have that sort of money in the sock, under our pillow. We would need to borrow money from the bank in order to get that.\\n\\nNow, if you don\'t have a steady income, if you\'re not full time or part time, if you don\'t have a business where you can show at least the last 2 financial years in terms of what you earn and you earn a decent wage, then it\'s going to be very difficult to get a loan. If you can\'t get a loan, you probably can\'t purchase a property. So I recommend going ahead, speaking to a mortgage broker first to find out whether or not you can invest in property, whether or not you can actually get a loan. Because if you can\'t get a loan, you\\u2019re probably not going to be able to buy a property.\\n\\nThe third reason you shouldn\'t invest in property for personal reasons is you don\'t know much about property. You just talked about it with your friends over a barbecue or you saw the Melbourne and the Sydney market boom and people make $100,000 or $200,000 seemingly overnight. And you think, "You know what, I want to get myself a little bit of that action. I wouldn\'t mind $100,000 in 12 months in terms of capital growth on my property. I\'m just going to jump in and buy something." But if you don\'t know much about property, you don\'t know about the process. You don\'t know how to research an area.\\n\\nYou don\'t know about mortgages and all of this sort of stuff. Then, you may want to hold for a little bit. Start doing some education. Start reading up on these sorts of things to get an idea of the property market before you go ahead and invest.'