The key ingredient in every successful financial decision, including property investing, is planning.
To plan successfully, you need information, tools and guides.
Property Investment guides:
Mortgage Choice provides an array or FREE, downloadable Property Investment Guides to help with your research and planning, including a:
- Property Investor Guide
- Step By Step Guide to property ownership, and;
- Co-ownership guide – home buyers and investors
Once you have the information you need via these guides, there is more than 10 handy calculators available to use as tools to help you do the sums on everything from working out how much you can borrow, to what difference making extra repayments will make if you are trying to pay down your loan faster.
- How much can I borrow – borrowing power
- Calculate stamp duty
- Fortnightly repayments
- How long to repay
- Extra repayments
- Compare home loans
- Achieve savings targets
- Lump sum payments
- Remaining balance
- Split loan repayments
- What can I afford to borrow, and
- LVR calculator
Investor Jargon explained:
If you find the jargon associated with investing is putting you off getting your plan to the next step, brush up on your lingo with Mortgage Choice’s easy tool: Property Investment Jargon Explained.
This is a simple glossary that just clears up any of those slightly unknowns that you might come across during the research phase of your plan.
Explore suburbs tool:
Once you’ve done your research, got the jargon down, and used all the calculators that will tell you that it’s worthwhile speaking with Daniel Meade from Mortgage Choice as your next step for the finance side of the plan, check out this link to realestate.com.au where they provide a very handy tool for you use to explore suburbs for property investment potential, in all states of Australia.
Next Step - consider your strategy:
From day one, it is also a must to consider your strategy, and create a good investment plan around it.
To make your strategy clear, particularly as time goes on, you will need to:
- Understand your current financial situation, and know what assets and liabilities you have, so you can figure out what kind of investment you are ready for.
- Set your property investment goals by asking yourself why you are investing in the first place. Give yourself a focus, by determining if you are investing for capital growth, (with a focus on increasing your property’s value over time) or rental income (with a focus on achieving regular income from your investment via rental income).
Either way, an investment property is a substantial financial commitment.
Taking the time to get good advice and plan carefully before you act, is ultimately what will generate your property investing success.
With these guides, tools and tips at your fingertips, what are you waiting for?
If you would like learn more about this topic, or about your home loan or financial advice options, contact Daniel Meade from Mortgage Choice today on:
Phone 07 3833 9666,
Or simply click on the contact us tab on this page.
If this information has been helpful to you or might be relevant to someone you know, please share it.
Daniel is looking forward to helping you turn your plans into reality very soon.
This article is for general information purposes only. It has been prepared without considering your objectives, financial situation or needs. You should, before acting on the advice, consider its appropriateness to your circumstances.