{"id":20126,"date":"2018-03-02T01:00:42","date_gmt":"2018-03-01T14:00:42","guid":{"rendered":"https:\/\/realestatetalk.com.au\/?p=20126"},"modified":"2018-03-02T01:00:42","modified_gmt":"2018-03-01T14:00:42","slug":"never-too-late","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/never-too-late\/","title":{"rendered":"Never Too Late"},"content":{"rendered":"

For many investors, their long-term goal is to retire with a financial nest egg that will keep them and their family comfortable for many years to come. But is that dream really possible if you\u2019re only looking at property for the first time when you\u2019re already in your 40s?
\nMichael\u00a0Beresford<\/a>\u00a0is the director of investment services at OpenCorp, and he says there\u2019s no reason an investor wouldn\u2019t be able to build an impressive portfolio within just a few short years, while still enjoying the lifestyle they\u2019re accustomed to.
\n\u201cA lot of people in their 40s think they\u2019re too late to start investing in property, but that\u2019s definitely not the case,\u201d Beresford says.
\n\u201cGreat things can be achieved in a relatively short time frame, and I\u2019ve seen first-time investors in their early 50s go on to build serious portfolios.\u201d
\nHowever, Beresford \u2013 who has helped thousands of Australians amass over $400m in property \u2013 says there are some common barriers that stand in between older investors and financial freedom.
\nOne of the most prevalent is \u2018analysis paralysis\u2019, which typically occurs when investors have a strong desire to fully understand the market before making an initial investment.
\n\u201cOlder investors have worked hard to create what they\u2019ve got, so they\u2019re fairly risk averse and have a desire to understand as much as possible before they start,\u201d Beresford says.
\n\u201cUnfortunately, that appetite for detail can sometimes cause confusion, delay things further, and even prevent them from taking action.\u201d
\nInstead, Beresford says investors should adopt a tried-and-tested method and then embark on the learning journey while their investment properties are steadily gaining value in the background. \u201cI can\u2019t stress enough the importance of taking action,\u201d he says.
\n\u201cWe have an extensive range of educational tools to help investors learn as they go, but there\u2019s no reason they can\u2019t be building their wealth at the same time.\u201d
\nBeresford, who has been with Open Corp for almost seven years, says the accelerated duplication strategy is the best option for investors who have a limited window to acquire an asset base that will provide the foundation for a meaningful difference in retirement.
\n\"\"
\nThe strategy relies on investors being able to identify when their usable equity has increased so they can channel that equity into deposits for future investment properties.
\nThe key is to have a system that tracks any market price movement: when there\u2019s a lift in price, investors revalue their portfolio, increase their line of credit, unlock usable equity and duplicate.
\n\u201cIt\u2019s the easiest way to help you build your property investment portfolio quickly, because you don\u2019t have to save for each deposit,\u201d says Beresford. At the same time, it also means investors can maintain the lifestyle they\u2019re used to.
\n\"\"
\nHowever, while the accelerated duplication strategy can help investors achieve a seven-figure portfolio in just a few years, Beresford says some investors are deterred by the thought of taking on any unnecessary debt.
\n\u201cThat can be a major mental hurdle which investors in their 40s need to get over, but we try to remind them what happened with their own house,\u201d Beresford says.
\n\u201cWhen they bought their own house, it was probably a stretch financially, but by acquiring that property and taking out a loan to fund it, they were able to grow their asset over time \u2013 what we\u2019re doing with investment properties is exactly the same, but it has multiple benefits.\u201d<\/p>\n

\u201cWe were all first-time investors ourselves a long time ago, so we understand some of those anxieties and we can help\u201d<\/em><\/h2>\n

Of course the accelerated duplication strategy only works if investors can keep a keen eye on the market and are buying good-quality investments every time \u2013 if investors make a misstep, it can actually compound their risk. \u201cIt\u2019s very easy to make a mistake and buy the wrong investment property,\u201d says Allister Lewison, co-founder and director of OpenCorp.
\n\u201cEven if you understand the right market to be in and the right area to be in, you might end up choosing the wrong property, and instantly nothing else matters.
\n\u201cThere are so many risks involved, it really is like a minefield out there, but we\u2019ve done it for a long time and our track record and client testimonials speak for themselves.\u201d
\nThe organisation pools the expertise of 80 property experts to identify ideal opportunities for investors, and around 180 hours of research goes into finding the right property for each person.
\n\u201cWe were all first-time investors ourselves a long time ago, so we understand some of those anxieties and we can help,\u201d Beresford says.
\n\u201cWe can also provide a complete outsourced model that allows investors to spend their time doing the things they enjoy while we take care of their investment portfolio and manage the process for them.\u201d
\nOriginally published as:\u00a0https:\/\/www.yourinvestmentpropertymag.com.au\/strategy\/never-too-late-245393.aspx<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

For many investors, their long-term goal is to retire with a financial nest egg that will keep them and their family comfortable for many years to come. 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