10 tips for getting started in property investment
When it comes to building a retirement nest egg for the future, property is still regarded as one of the safest long-term investments. While some
2 February 2021
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Tips & News
What is rentvesting?
Rentvesting – which sees buyers rent a property where they want to live and buy an investment property in a suburb they can afford – is a
1 February 2021
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What is yield and how do you calculate it?
For anyone who is considering buying an investment property, you will surely be interested in what return the property will give you – in other
1 February 2021
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What are LMI and LVR?
If you’re looking to buy your first home, you may have come across the acronyms LMI and LVR, especially if you’re working with a smaller
11 January 2021
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Do I need a 20% deposit for a home loan?
Many home buyers assume they’ll need a 20% deposit before they can apply for a home loan, but that’s not necessarily true. Features such as
11 January 2021
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How to: increase your chances of home loan approval
Getting a mortgage may seem daunting, especially when lenders seem to be applying more scrutiny than ever to home loan applications. So, we’re telling you
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Top Property Investing Tips
TARGET PROPERTIES WITH CAPITAL GROWTH PROSPECTS.
Search areas with plans for future infrastructure, new major retail, new transport, gentrification prospects, and other growth activities.
LOOK FOR A STRONG YIELD.
Your investment property should enhance your lifestyle, not restrict it. The rental yield should cover the costs of owning your property, or at least close to it.
FAIL-SAFE YOUR INVESTMENT.
Do not invest in one-horse-towns (e.g. mining towns or tourist towns). If those industries have a downturn, your investment could suffer too. Choose locations with many employment opportunities.
WHO, WHAT, WHEN, WHERE, WHY AND HOW.
It’s important to know all the grants, entitlements, concessions and strategies you can use however, using them at the wrong time, in the wrong way can cost you thousands and set you back years. Your expert team are here to guide you.
TREAT YOUR INVESTMENT PROPERTY AS A BUSINESS.
Make choices based on dollars, not your emotions. A sparkling in-ground pool is a great for your own home but will be a money-pit for an investment property.
GET THE MOST BANG FOR YOUR BUCK.
Speak to an experienced accountant who will set up an off-set account and make sure you are claiming the maximum at tax time.
YOUR “POT OF GOLD” IS NOT BOTTOMLESS.
Using the equity in your home or other property is a great way to build your portfolio and is essential to most property strategies however, pulling out too much equity too soon could leave you over-exposed if there is a downturn. Know when activate certain strategies.
BE A MATCHMAKER.
Consider whether the property matches its location. A one-bedroom apartment is going to be hard to rent out in an area where the demographic is predominantly families.
DON’T BE A SCROOGE LANDLORD.
It is worth a few extra bucks per week to have an expert managing one of your largest assets. If your property manager does not vet your tenants thoroughly or misses important maintenance issues before they become severe it could cost you thousands.
SET GOALS.
If you’re serious about becoming financially independent you need to set clear goals, have a long-term plan made up of achievable short-term targets and an expert team guiding you along the way.