Buying the right investment is everything, without the emotion don't stuff this one up.
There are a few things we think are important to consider when you look at how you can minimise the impact your investment is going to make.
Determine what you can spend, and stick to it. This will ensure you don’t overextend yourself, and you can afford the ongoing costs of owning an investment property. Remember – Interest Rates can change the entire dynamic of your investment strategy.
Look into the property market in your desired areas. Determine the prices of property, and the potential rental yields. This will help you make an informed decision when purchasing.
Pick a property that’s in reasonable condition, as this will save you from forking out the costs of renovations or extensive repairs.
Negotiate with the seller and their agent, you never know how much you could potentially save. Consider what repairs or reno’s the property will need and use them to leverage your negotiations!
This is where we come in! Shop around for financing to find the best loan options for you
Set a competitive rental price and find some quality tenants!
So many people settle on their loans and then put them to the back of their mind.. Don’t let this be you! Regularly review your loan (At least annually) to ensure you’re getting the best rate and repayment terms. Even better – Sign up to RateTracker and put your loan on autopilot, it checks what you’re paying monthly and notifies you as soon as you’re paying too much!