Buying a property is just the first step in a successful property investment journey. To help you get started after your purchase, this guide outlines the key steps, including deciding whether to self-manage or hire a professional property manager , and protecting your investment with appropriate insurance. The guide also emphasizes the importance of continually tracking your property's performance to achieve your financial goals and maximize returns, rather than simply hoping for an increase in value.

This guide on treating property investments like a business outlines crucial final steps for property investors, including protecting your assets through formalized rental agreements and securing appropriate insurance policies like Building and Contents, Landlord, and Public Liability insurance. It emphasizes the importance of continuous learning by engaging with experienced investors and industry professionals through groups and forums to increase returns. Finally, the document encourages investors to continue building their portfolio beyond the first property, highlighting that the process becomes significantly easier and more refined with each subsequent investment as you learn from initial mistakes and gain valuable experience.

Property investment should be treated like a business, and this document outlines three key steps for effective management: maintaining the property, maximizing returns, and regular portfolio review. It is crucial to keep investments in good condition by engaging professionals for maintenance, as skimping on upkeep can lead to higher costs and a decline in property value. Regularly reviewing your portfolio allows you to identify available equity, which can be used to expand your portfolio and take advantage of the compound effect of property investing. Finally, consistent review of both cash flow and growth is essential for success. By tracking performance every six months, investors can plan for expenses and identify underperforming assets to make timely adjustments, such as selling the property or making renovations.

When approaching property investment like a business, building a professional team is essential for success. Instead of trying to do everything yourself, engaging a team of professionals will significantly expand your knowledge. Key team members include an advisor to help establish goals and guide you, a buyers agent to help you navigate the market, and a mortgage broker to assist with finances. A property manager can handle day-to-day operations for a larger portfolio, while an insurance broker ensures your investments are protected. An accountant is crucial for navigating tax laws and maximizing returns, and a solicitor or conveyancer will help with the legal aspects of purchasing property. It is also recommended to get a building and pest inspection, and a quantity surveyor to prepare a depreciation schedule for tax purposes. Finally, maintaining good records is an essential skill for managing properties and preparing tax returns, as the ATO frequently audits property investors.

Master the mindset of a property investor by treating your investments like a business. Successful investors differentiate themselves by committing to continual education, researching different asset classes, and making unemotional decisions. Building a professional team, like a property manager, can save you time and help with tasks like negotiating rent increases and navigating payment issues. It is important to set clear goals to serve as a roadmap, allowing you to focus on what truly matters and avoid getting distracted. By building your knowledge and focusing on your goals, you can make sound financial choices and make a real difference in your life.

Many real estate investors are advised to "treat your property investments like a business". However, many still fail to do so, often making impulsive decisions based on friends' advice or market hype. This can lead to frustration and financial losses. This article series aims to guide serious investors on how to treat property investments like a business. It outlines 12 key steps, starting with the crucial need to "Come up with a plan". Defining a personal investment goal and creating a strategy is essential for a smooth journey to financial success.