You start, by starting. Doing nothing here will simply lead you to nothing.
The first step to purchasing your first investment property is assessing your finances! Are you in the right financial position to take on another property? If you’ve determined that the answer is yes – then you’ll go through the same steps as purchasing any other property.
There are a number of ways to approach this from a taxation point of view. For example, you don’t want to use your own cash you want to use your equity if you can. Ensuring you are always maximising your tax deductions
Keeping in mind that lenders may provide different interest rates and features for Investment loans – Have a chat with your broker to determine the best offer for you!
Looking at whether you should be putting in a 10%, or 20% deposit is another big decision, sometimes you can get away with borrowing more on an investment as some of the costs are actually deductible as an investment.