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Starting Your Property Investment Portfolio And Starting a Family
    • 04 Sep, 2022

    Starting Your Property Investment Portfolio And Starting a Family

    When you are just starting out developing your property investment portfolio, the hurdles can seem daunting - especially if you are planning to start a family. While it is an exciting time, it can definitely require a lot of juggling and forethought.

    If you are starting out on this journey then you may be wondering about all of the things you have to consider, and what the pros and cons are. Luckily the expert team at the Young Investors Club have been in the business for decades. We have the tools and the know-how to help you on your journey to financial stability and a happy and cared for family.

    ####Things To Consider When Are You Starting A Family? While it can be difficult to plan ahead with these things, knowing when you want to start a family can be majorly beneficial to your property investment journey. This largely comes down to the amount of time you have to actually buy properties and start generating income from them.

    Once you and your partner have children and take parental leave it can be more difficult to invest. We recommend figuring out how long you have until you want to be parents and then planning how you will obtain properties before then.

    Family-Proof Your Investments One Year Out When you are on the home stretch of starting your family - say a year out - then it is time for you and your partner to look at the financial stability of your investments.

    A good way to begin this process is to sit down with your Young Investors Club mentor and walk through your options. Do you need to restructure your loans? Do you need to do any improvements or renovations to the properties to boost income? Essentially, how can you make sure that your property investment will provide for you and your family.

    Parental Leave During your period of parental leave, it is important to stick to your budget as much as possible. You and your partner will be down to a single income at least for a little while. It is good to remember this is temporary, but even so you should treat your budget seriously, whether it be for just 6 months or longer.

    While this might mean you can’t go out as much, it will give you time to bond with one another and your newest member of the family.

    ####Pros To Starting Your Property Investment Portfolio The pros of property investment might not always be clear when you are starting out, but property investment is a long-term plan. Here are just some of the ways that beginning property investing will support you and your family in the future.

    Predictability While the housing market can change, it is still by far more reliable than other investments. Work situations change, stocks go up and down, but at the end of the day everyone needs housing. It is a safe way to ensure income for your family, and gives you something to fall back on if anything was to go wrong.

    Capital Growth If you are smart about your property investment, your investment can increase in value significantly. Not only will this make sure you and your partner are comfortable when it comes to retirement, but also will support your children for years to come.

    You Can Sign As Guarantor While it can be difficult to imagine, one day your children will be grown up and buying a house of their own. As you are probably aware, buying when you are young is very difficult but can support you for your whole life. If you are a reliable and respected property investor, your hand as a guarantor for your children’s investment will help keep them supported and safe.

    Nest Egg For Your Children Like we said, property investment is a long-term investment. Not only will it support you for your whole life, it will also support your children for theirs. It means that if anything were to happen to you and your partner, your children would be left with support and stability.

    ####Cons To Starting Your Property Investment Portfolio Like all investments, there are always investment risks that should be weighed up. Not every financial decision suits each person equally, so you and your advisors should discuss risks at length.

    Ongoing Costs The reality of a long-term investment means that you will have to continue to contribute a range of costs to your properties. Between renovations, maintenance, and fees - these costs can begin to seem exorbitant. Do not go into this process without being able to shell out on these expenses, and do not cut too many corners. It reflects badly on you as a property investor and does you a disservice in the long run.

    Vacancy There is always the possibility that your property may remain vacant for a period of time for whatever reason. This risk is relatively unpredictable and can mean you have to shell out on costs for a while. Unfortunately, it is just one of the risks of having such a long-term investment.

    ####Building Your Portfolio And Your Family When you are young it can be a daunting idea to start building your property investment portfolio. However, the best time to get started is before you have kids taking up your priorities. Invest early, and you and your family will be safeguarded in the future.

    The Young Investors Club is a great way to begin on your journey, providing you with the mentorship and support that you will need to get started on your journey. Join today so that you can get started on supporting your family in the years to come.

    Become a Member Today!

    Our mission is to help young Australians learn the property market dynamics and discover the amazing opportunities that exist in real estate.

    Join Now