Two years into his property investment journey, Taku Ekanayake have already built a six-property strong portfolio through hard work, good education, the best mentors and consistent goal-setting.
Talking to Smart Property Investment, the young investor shares some of the most important lessons he has learnt – from goal-setting to renovation, property management and financing.
What’s your number one tip for goal setting?
Number one tip for goal setting, have a timeline. Make it really specific as well, and write it down everyday in the morning, in the night, so it’s at the top of your mind all the time.
Your number one tip for buying investment properties?
Always buy something that you can add value to and buy below market value. It’s easier said than done, of course. You need to know the area and you need to know your numbers, but you got to make money on the way in.
Your number one tip for renovating investment properties?
Don’t overcapitalise. A lot of the areas that I’m investing in are bread and butter areas, so I’m not gonna put a nice marble tabletop on my kitchen. I’m just gonna Laminex it, keep it pretty simple because it’s going to appeal to that crowd.
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