Brett's "set & forget property" strategy
Brett Alegre-WoodChairman, YPC Group
My set and forget property strategy is quite simple.
The reason you build a portfolio should be to give you a better lifestyle, now and in retirement. If you constantly have stress from your properties through changing tenants, maintenance, cashflow problems, purchasing problems, refinance hassles you certainly wouldn't be experiencing a better lifestyle.
If owning one property stresses you wait until you have 10 or 20 properties. It's this simple reason why I 'set & forget'.
Once I buy a property I set it up with a letting agent and the collect the rent each month and manage any problems, I then forget it. I set my mortgages on direct debit and forget it.
Once the property is set my only responsibility is to check the rent each month and ensure the property is inspected every quarter. As long as these two things are OK, I can then get on with living.
So in short once you have bought the property; set it and forget it. You can't afford to have it affect your lifestyle.
Live with passion,
Brett
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