Property is a great way to create wealth and those who want to secure their future should seriously consider tapping in to this market as soon as possible. Entrepreneurs understand the importance of investing, but given the overall state of the economy at present, investing in stocks may not guarantee a good long-term return. Property on the other hand has always been a solid investment and given that more people rent during a downturn, will ensure a steady rental income. Property also appreciates in value and while the rate of appreciation may be slower in a bad economy (which is why it's the perfect time to buy), it's highly unlikely that the investment will depreciate significantly over the long term. Property is a great way to create wealth and those who want to secure their future should seriously consider tapping into this market as soon as possible. Financial planning Do the maths before buying an investment property. Consider your long term goals and as with any property purchase, thoroughly research the area in which you are planning to invest. Chat to local rental agents in order to form some idea of how much rent is charged on average, but don't be surprised if the return is lower than the actual cost of the bond repayment, particularly if you've secured a 100 percent bond. This is fairly standard in the first couple of years of property ownership. Remember that rents do go up and you will eventually turn a profit. Also, it needs to be remembered that homes require maintenance and although this will vary and be dependent on the type of property you buy, money will need to be available in order to keep the home in a liveable condition. Remove the emotion Investing in property is a business and emotions should never play a role. Savvy investors don't buy an investment property because it looks nice or because they fall in love with it, they buy it to make money. As an investor, you won't be living in the home so don't make a decision based on what your personal likes and dislikes, buy something that is going to appeal to tenants. Get a feel for the market by attending show houses and contacting a variety of estate agents, informing them that you are an investment buyer. Estate agents like to work with serious buyers and are often ideally placed to not only find well-priced investment homes, but also to offer valuable insight about the area in which you want to invest. Put your money where your mouth is While it's highly recommended that investors look at an array of property options, this doesn't mean they should delay making a decision once they find what they are looking for. Yes, there may be a better deal out there, but holding out for that ‘perfect property’ may lead to losing out on a competitively-priced home which will offer good returns. If you've thoroughly researched the local market, you’ll know what constitutes a good deal. Well priced properties don't generally sit on the market for an extended period of time and if you don't buy it, someone else will. Looking ahead It's also vitally important to ascertain what type of tenant the property will attract. For example, student accommodation, while viable, comes with challenges such as noise complaints from neighbours as well as a relatively high tenant turnover. Take a critical look at the area and ask yourself why it would appeal to a tenant. Is the property situated close to public transport links, and is it close to office parks and shopping facilities? Remember, the more appealing the area, the more rent you will be able to charge. Entrepreneurs don't generally become too involved in the day to day running of their investments and often delegate responsibilities. One of the dangers of owning investment properties is the impact it could have on other areas of your life. If you have the time to sort out maintenance and tenant issues, great, but consider employing a good rental agent if you either don't have the time or don't want to become a full-time landlord. Yes, it may cost a little extra and dip into your profits, but it will free you up to look for the next investment opportunity.