Inspire Realty founder/ property advisor Colin Lee, a buyerâ€™s agent who has created a 7 figure business from scratch since Covid, said despite the cost of living and interest rates increasing, there were opportunities in every market and the sooner people invested, the sooner they would reap the rewards.
â€œIn the last 40 years, properties have doubled every 10 to 12 years,â€™ Mr Lee said.
â€˜Wherever the market is, you donâ€™t have control. You do have control over your destiny.â€
He has 5 investment tips for anyone considering securing their future in the next financial year.
Set short, long and medium term goals. Arm yourself with as much information as possible and understand what you need to get started in property. Consider how much you can save on your current income and when you want to retire.
Find out what people are looking for. Invest in property that will be in demand when you go to sell it. For example, there is the greatest growth in demand for 3 to 4 bedroom houses, rather than 2 to 3 bedroom units.
Make smart property investment decisions based on facts not emotions
Do your numbers. Find properties which are as neutral or cash flow positive as possible. Income generating assets that will increase your borrowing capacity for the next property.
Use an expert to help you. Buyers agents will save you time, money and confusion and ensure you have peace of mind by finding the right property for you.
â€œAfter the Sydney Olympics, prices shot up in one year afterwards,â€ Mr Lee said.
â€œWe think the same will happen in Queensland. Donâ€™t wait too long. We are 10 years away. You can still get properties for $500-600,000. They will double.â€œ
He said it was important that people planned ahead to secure their financial freedom.
â€œProperties will not go down. People need a place to live and property is in high demand from renters and buyers,â€ he said.
The Brisbane father launched a Better Future Day on May 13 to give the community hope amid growing disillusionment with the state of the world.
He is passionate about helping to give faith to people who are frustrated about whatâ€™s happening in the world and feel helpless and hopeless about the future.
Mr Lee is a multi-award winning investor who has inspired thousands of people worldwide to become financially secure.
â€œWith the cost of living increasing and rising depression and suicide rates worldwide, I want to help more people come out of this mess and inspire a new generation of investors,â€ Mr Lee said.
Mr Lee, aka Property Prince, aims to inspire people globally to consider there is always light among the darkness.
Having had many of his own challenges, being brought up in Malaysia and being made redundant three times from other jobs before starting his own business in January 2020, he knows full well how depression feels.
He volunteers for Mentoring Men and is passionate about helping men who are feeling depressed, knowing that two out of three suicides in Australia are by men.