While many of us are bunkering down right now and waiting to see what our new “normal” is going to be, some of us are curious to see what’s going to happen with investment property opportunities.
We have no idea what’s actually going to happen to the property market once the country starts up again and we see the real impact that this pandemic has had on the economy. We do know that the government will be doing everything they can to stimulate the economy and support the real estate industry.
If we compare this to the GFC, the only other recent global event that had a major impact on our economy, we know that there were a ton of great investment opportunities that arose following that crisis.
We saw the RBA significantly lower the cash rate and changes were made to stamp duty. Developers had stock to sell that needed to be turned into cash, so they were cutting prices and doing deals. A lot of investors did really well by taking up these opportunities.
If your plan is to invest in property, now is a great time to be watching the market, listening and learning. Watch to see what’s going on around the country in different property markets and narrow down your search area, listen out for changes and opportunities that will reduce your entry price and learn about different investing options.
Call me if you’d like to discuss your position, plans and financial position. I can get you started with making sure your finances are in order for an investment loan and I can point you in the direction of property investment specialists if you need help with the research side of things.
Be prepared so that you can move when the opportunity presents. I’d love to help you do that!
Take care, stay safe.
Michael
