Should I seek professional help for buying an investment property?
People usually think that buying an investment property is like buying another house. Well , you are definitely buying another house but not the way you bought your own home.
Google has given so much ease to all of us for searching information within seconds . But that's just information based upon what someone published online, like you are reading this blog. Information is different from knowledge. Knowledge can be given by qualified people only , rest everything is given by online , offline media.
If you are relying upon google search results , then you are going to get conflicting sources of information on whether you should buy an investment property or not, whether you should buy on your own or take professional help.
We all love the idea of going direct, buying cheap , saving fees etc. whether we are buying clothes , household articles or services.
Remember , investment property is not a daily use product which you can just pick from a shelf and think that you really got the right fit. Investment property is for making money , a wealth creation tool. So don't be emotional and penny wise, pound foolish. All investment ideas are easy to find but difficult to apply in its entirety.
A professional who deals with investment property everyday knows what the market is doing, which way its heading , what to avoid and where to invest.
People often feel under pressure to follow their friends , relatives and try to compete with them at the same time. This creates a very complex situation where you are actually chasing a self created puzzle because of your fear, lack of knowledge and greed to buy cheap . Blindly following someone , stands very little chance that it will work for you . Everyone has different goals and financial circumstances which might not be relevant to you.
Would you just take a medicine or treatment for your sickness because it worked for your friend?
Just like you get diagnosis done by a doctor for your health situation to get the right treatment, you just can't risk your property investment decision without full fact find about your financial situation , budget and goals.
It goes back to the old saying," A stitch in time saves nine"
If you have made a wrong decision by yourself because of your own reasons, then it will be difficult to reverse the damage.