Why do you want to buy an investment property? If it is because you want to get ahead financially then that's a good answer. If it's because you want to set yourself up for retirement then that's also a good answer. But if you're buying a property, or at least considering it, because the press are talking about it or your neighbours/work colleagues/brother is doing it then do you really know if it is the right investment for you?
Don't put the cart before the horse. You need to decide on your financial plan first.
We recommend you sitting down with our financial adviser and putting together a financial plan tailored to your requirements. What do you want to achieve? What is the desired outcome of your plan?
After this, if property investment is your chosen plan then proceed with the knowledge you have a desired outcome - a goal that has both dollars and a timeframe linked to it. If it's decided that property investment is not for you (even though your neighbours/work colleagues/brother might be doing it) then wasn't this a good time to realise before, possibly, making a really big mistake?
Have you realised it’s a good idea to have a good broker working for you? For more information, contact Peter Ruddock on (03) 9877 6471 or firstname.lastname@example.org