How To Get Good Property Investment Advice

Getting proper property investment advice is vital during all stages of adding property to your investment portfolio

. The property markets are never very stable, so getting the advice you need is vital to guaranteeing that your investment properties turn a profit. A poor property investment can lead to headaches later on; from simply having property that is not making money to properties that are actively siphoning funds and profits from other properties.

Poor investment advice can create many problems later, so finding good quality advice from the beginning is important. These are things you should look for:

1. Find out and verify their credentials

Anyone can give property investment advice, but finding someone with credentials that allow them to not only give advice but have the knowledge required to give proper advice is important to shield yourself from as much risk as possible. Finding an advisor that has a history as a real estate agent makes good sense.

They will have a working knowledge of properties in an area and quite often are aware of local property trends that someone who does not work directly with the real estate market would miss out on. On top of this, they will have the tools to properly interpret inspection reports and help adjust profit goals as well as the building costs, should there be work needed to the property.

2. Look for a proven record

As part of the investor's pitch to you, they should have a list of clients they have worked with and what results they got with each client. If the results seem too good to be true, the next step of checking references will give you an opportunity to verify the claims of the investment advisor. While no advisor is going to help every client to be profitable, there should be a very consistent track record of successful investing, even in the souring economy.

3. Get and verify references

The final key to finding a quality advisor is to get and verify references. The advisor should be happy to provide multiple references as part of the initial meeting. If they are unable to provide references, then there is likely something questionable about their business practices that make them not want you speaking with former clients.

If they are new to the business, however, you will have to make the decision whether to give them a chance or not. In these situations, you should get references from other markets they have worked in and check them out to make sure they are competent.

When checking references, do not just verify they were or are a client, ask a few questions about how well the person is doing with the advice they received from the advisor and how much the advisor cost them. The references will provide a way to track the advisor's success, aside from their claims of success, which they have told you about. On top of this, it can give you a good idea of what you are about to get into, including money invested and how much profit can be made from the investment.

by: Lawrence White

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