In my travels as a mortgage broker helping people with their finance, I am often asked about investment properties.
Where is a good place to buy?
What should I look for in an investment property?
How do I find a positively geared investment property?
Do I need a big deposit to buy an investment property?
How does tax work when it comes to investment properties?
The list goes on. There are so many different opinions on what you should do, most of my clients become confused and place the idea in the too hard basket.
You can troll around on the internet for ages attempting to weed through what you need to know, or you could go straight to the source and ask someone local who knows the area and sees the process every day.
Getting some basics behind you. Here is a great Beginners Guide to Investing. This will give you an idea on the process and some traps and pitfalls, but that is only the starting point.
As a finance expert, and not a property or tax expert, I cannot give advice on tax or property, but what I can do, is surround all my clients with people who can.
- You will need a good accountant to sort out the structure of your purchase,
- A good Real Estate Agent who can find the right property and give advice on what rental income and growth opportunities there are on the properties in the area you are looking for.
- A Mortgage Broker who is an expert in Finance to assist you to find the best loan for your needs. Not just a once-off loan for now, but a loan that will be setup right from the beginning to assist you with your whole financial plan going forwards.
- A settlement agent who can sort out all the titles and paperwork that comes with purchasing any property.
If you don't have all these people on hand, that is ok. I have good contacts when it comes to property experts, tax experts and settlement agents and then of course making sure you get the right expert home loan advice at no cost to you as a Mortgage Choice broker. Click here to find out more on how to contact me.
Book in a FREE appointment with myself. Why?
To make sure you can afford it
To work out what your out of pocket expenses are likely to be and how much money you need to take the plunge
To make sure that you are maximising your equity
To get a pre-approval in place so that you have the power when it comes to placing an offer
To surround yourself with local experts who can assist you through the whole process and beyond.
So if you are even just thinking about buying an investment property and all the information on the internet is confusing you, then please give me a call on 0414 843 060 or alternatively you can email me at email@example.com.