Don’t be worried out missing out on an investment property, there are always plenty more to choose from according to Nick Lockhart.

There are still plenty of property spruikers around who will tell you want to hear to get you in according to Nick Lockhart of MRD Partners.

He said the trick was to trust your instincts, don’t feel rushed and if your internal alarm bells start ringing don’t ignore them.

He said if marketers started to use these phrases or tactics the best thing to do could be to walk away.

HYPE“Be wary of unrealistic time frames and outcomes of success and wealth, which are used to lure you into buying through over inflated expectations,’’ he said.

TARGETING YOUR EMOTIONS

“This is where a slick salesperson uses tactics that pull on your heartstrings in unrealistic ways,’’ he said.

Property can be a good way to get a retirement nest egg together, but just make sure it’s the right one.Source:News Limited

RETIREMENT SHORTFALLS

He said convincing people they should buy because they won’t have enough for their retirement otherwise was wrong.

“A shortfall in retirement funding is a serious challenge that most working Australians face,’’ he said.

“That said, it is simply wrong to use this to manipulate someone into a property transaction that may not be in their best interest.’’

CASH FLOW POSITIVE

“The bottom line is that anybody acting like they have a crystal ball and are able to say with any degree of certainty what a market will exactly do into the future is less than honest,’’ Mr Lockhart said.

He also warned about a sales pitch that said you can afford to buy because it would cost you less than your weekly coffee bill.

“Selling you an investment property on the basis of it costing less than your weekly cups of coffee is hardly a scientific approach to investing, or treating your investment properties like a business,’’ he said.

“Unreal weekly figures with no contingency for the unexpected is a recipe for disaster.”

YOUR LIFESTYLE GOALS

Any decent investment strategy should take your lifestyle goals into account, that’s not the issue. It’s when these goals become the fodder for a slick salesperson to manipulate your emotions that you need to cut short any discussions or engagement with manipulators, he said.

Make sure you do your own research and don’t be rush into making any investment decision until you are ready. Picture: Thinkstock.Source:ThinkStock

TAX DEDUCTIONS

“The tax deductions owning investment property gives a property investor are great; no doubt about it,’’ Mr Lockhart said.

“I do not believe that investing in property should necessarily be the action taken by someone simply wanting to reduce taxes.

“So if you are ever speaking with someone who says “you’re paying way too much tax, you should buy a $600,000 investment property with our group and it will help you offset the amount of tax you pay” — show them the door.’’

GOVERNMENT INCENTIVES

“The first homeowners grant and investment property depreciation are not government incentives and sales people who refer to them as such, in my opinion, are trying to legitimise their activity and make you feel like the government sanctions the transaction they are wanting to push at you,’’ he said.

Property investment can help build wealth, but make sure you are comfortable with any decisions you are making and don’t feel pressured. Picture: Thinkstock.Source:ThinkStock

FEAR OF LOSS

“Absolutely there are benefits in timing a market, getting in while it is in the recovery phase or the early stages of the growth phase,’’ he said.

“But when someone is pushing you into action on the basis that if you don’t act now you will miss out, know that this too is another manipulation tactic designed to get you to buy an investment property through them right now.’’

GROWTH SUBURBS, HOTSPOTS, BOOM LOCATIONS

“Be careful as media hype is not always accurate. Yes, you want to invest in well researched locations but all too often some small out in the middle of nowhere mining town is peddled as the place to be, but look what happened when the commodities’ boom ended.”