Here’s 10 quotes from property investing superstar Todd Polke to help you build a portfolio that pays you an income for life….starting today.
1. On investing in multiple cities
Buy in multiple cities, in multiple markets at different times of the cycle. This diversifies your portfolio, minimises your risk, and gives you greater capital growth potential.
2. On what drives price growth:
Infrastructure is king. But, research shows transport infrastructure is most important to property price growth.
3. Who is the best ‘end buyer’ of your investment property?
When you buy a property always buy it with ‘end buyer’ in mind. Owner occupiers are best because they get emotional about the property.
4. 3 Keys to successful property investing:
You need the right strategy, right market, and right time of market.
5. 3 Types of properties every portfolio needs:
“Buy and Gold” Properties. Paycheck Properties & Momentum Properties. This will ensure a portfolio with solid equity growth and high cashflow.
6. A question to ask when buying a property
‘How can I make money when I buy as well as when I sell?
7. Preparation is the mother of success
If you are not prepared to act – with finance ready etc. –golden property opportunities will simply float past you.
8. On wealth and success:
Wealth is a result of your daily habits. Success is a system.
9. On buying off the plan:
When buying off the plan. Make sure the developer has a financial interest in the long-term prospects of the project. This will impact your return more than anything else.
10. Here’s a quote from a famous sports player that Todd lives by:
‘Success is not earned it’s leased. And the rent is due everyday’.