There’s no doubting it, Australians aspire to become property owners.

For many of us, this is because real estate represents much more than simply a place to sleep and eat; it represents the opportunity to create financial freedom and real, lasting wealth.

It’s important to understand however that there’s no real way to ‘get rich quick’ through real estate. The truth is – and this is something you’ve probably learnt for yourself by now – that it takes an investment of time, effort, money and sheer determination to create wealth through property.

If you are genuinely committed to changing your life and creating real wealth through real estate and you’re prepared to put in the hard yards, then your goals are absolutely within reach.

The best way to streamline this process, as you know, is by developing your own personalised property strategy and getting a team of subject matter experts to guide your journey. Just beware, most of the so-called experts, especially in property mentoring and mortgage broking are salesperson rather than property or finance experts.

Your investment strategy acts as a step-by-step process to help you to create a 'road map' that will guide your decisions. It allows you to sort through all the clutter so you can find property’s that suit you, your budget and your lifestyle.

But your investment strategy is not a ‘set and forget’ situation. Your strategy will need to be reviewed, tweaked, revised and from time to time, you may even need to scrap it and start again.

Why? This is because your own situation will change over time as the recent economic downturn brought on by Covid_19 showed many Australians. You’ll change jobs. Your income level will change. You may expand your family. All of these transitions can impact your finances and your view of the future.

Before you consider buying your next investment property, I urge you to work on your personalised strategy.

Even if it’s only been six months since you last visited it, it’s worthwhile reviewing it one more time, so you can make the smartest choices for your situation that result in the most profits in your property portfolio.

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This article via Your Investment Property does not constitute advice; readers should seek independent and personalised counsel from a trusted adviser that specialises in property, a tax accountant and property design specialist.