So, you are wanting to buy an investment property. You have seen others and thought “yeah I can do that” and now you don’t know where to start.
4 simple steps to get you started.
Check your finances
Create a budget. And stick to it, It’s not cute sexy or even remotely interesting but it will help you get to where you want to go. You need to be thorough and make sure you are honest with all your Commitments and Income. This will help you get clear on whether or not it is possible for you.
Talk to a broker
Go and talk to a broker, get a pre-approval then you will know exactly where you stand and what you are able to borrow. Remember however that you want to buy good homes in good suburbs so that you are able to maximise your returns.
Seek advice, do your research make sure you are fully informed about all aspects of having an investment property. Don’t be scared to talk to estate agents, brokers or existing property investors to see what their opinions are.
Define your Strategy
Be clear about your expectations and how much you are willing to spend. Set goals around your property purchases, ask yourself ‘how many properties do I want to own and by when’, remember that these goals should be realistic to your age and income.
To talk to your local broker Deslie Taylor who covers areas between Jimboomba to Ormeau. Contact us
M: 0418 715 286
Office: (07) 5549 0800