INVESTOR INTELLIGENCE
Many people try out investing in property , but not everyone is successful . More often than not , they don ’ t succeed because they do not run their property portfolios like they would run a business .
If you want to create wealth through property , you must become good at investing in property . Sounds simple but the key word is investing . Sadly , property investors are often frustrated with their property investment portfolio and not making money . The truth is , if it were easy , all property investors would be wealthy .
But you can run a tight ship and run your property portfolio like a business by implementing these 5 strategies :
1 . SEPARATE ENTITY , BANK ACCOUNT & ANNUAL FINANCIAL STATEMENTS
Like any successful business , your property portfolio should be in its own entity and have its own bank account and annual financial statements . Building your portfolio this way provides better asset protection , is better for estate planning , improves financing capability , and is more tax efficient .
52 SEPTEMBER 2022 SA Real Estate Investor Magazine