2018 - How many Investment properties are you going to buy this year?

January 01, 2018
Nicole Peters

Is 2018 the year you make your money?

It's the same old New Year's Resolution - "This year I am going to invest!!"

It makes perfect sense, doesn't it? No-one can deny someone the opportunity to better their life, or to make some legacy for their Family, or to prepare for a more comfortable retirement. Every year though, once the fireworks are finished and the hangover is gone, it can often dawn on us that we really didn't get that far last year. You may not be one of these people, but if you are then 2018 could be your year. 

How can you set yourself up for a year of developing Wealth?

There are a few things you can do today in order to begin a journey that will become so exciting that you will delight in the intricacy of property value, of trends in the market, of interest rates and choices of suburbs. All that stuff comes alive once you have made the decision to take the first few steps toward getting an investment property, so what are the steps?

 

Know your place now.

Start with the realisation of your place in the market right now. What is your property worth - is it worth getting an appraisal on it? Is it worth us getting a free valuation for you? Unless you are flush with cash right now, or have dollars available on a loan redraw or line of credit then your existing residence is really the key to how far you can initially go in your first steps up the investment ladder. Once you know what it is worth then you can determine what sort of deposit funds you will be able to access, and in doing so that will determine what size property you can buy to. Ask us for a free valuation by emailing at ian.robinson@mortgagechoice.com.au

 

Find your borrowing capacity

Nothing says "I am a confident investor" more than knowing exactly how much you can borrow. It is an exercise that you should do at least yearly and for many, a lot more often than that - especially when your circumstances change.

A borrowing capacity exercise takes a few minutes to do, it is preferable face to face so that your figures can be closer scrutinised, but can just as easily be done over the phone.

  • It gives you an appreciation on where you can look in the market,
  • It gives you confidence if bidding as you will know your limits,
  • It gives you greater negotiating power,
  • It saves time by discarding those properties that do not fit into your capacity.

Get a borrowing capacity by calling our Noosa office on 5474 4100, or our Currimundi office on 5436 6177. Or email on ian.robinson@mortgagechoice.com.au

Posted in: Property investment

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