According to Wai Oo, a highly respected and successful property investment advisor and founder of Invest Wise, property is still the best way to grow wealth in Australia. Mr Oo understands the market and knows all too well what can happen when ill-informed buying decisions are made. Mr Oo had been burnt before he decided to start Invest Wise, a premier investment and wealth management company that understands the territory that comes with property investing. Though the Sydney, and indeed the Australian, real estate market is a tough market to enter into, Mr Oo is of the view that it still offers the best option to grow wealth if it is done in the right way.
“Having operated in the Australian property market for a while now, I am firmly of the view that property is still the best way to grow wealth in Australia,” Mr Oo said today.
“The key to property investment in Australia, is to make the right decisions. Sadly too many people make the wrong decisions or do not property understand the impact of their buying decisions.
“I strongly recommend, particularly to young people attempting to set themselves up, that they should look at investing in property. Property provides the opportunities that become very important later on in life and it is huge for building wealth.
“Property also brings with it opportunities to claim property related expenses through negative gearing all while the property continues to grow in value and provide revenue through rental income.
“The problem is that many people want to use investing in property to get rich quick but investing in long-term wealth-building solutions is the key. Despite this, the returns and growth opportunities for property in the short to medium term should not be dismissed either. According to Moody's, Sydney property prices grew 11 per cent in 2016.
“Many people do not understand how to manage risks and this can have a huge impact on their decision-making processes when it comes to investing.
“I strongly recommend to anyone thinking about investing in property to grow wealth to speak to a property investment expert – not just a real estate agent. An agent’s job is to sell the property to the highest bidder. A good property investment expert will provide personalised property investment solutions, tailored to your needs and financial situation and help to purchase the right property for the lowest price. A good property investment expert will also take into account risk management which I think is very important.
“Investing in property is usually one of the biggest decisions of your life so it is important to be sure you are making the best decision possible.”