Buying an investment property was, and continues to be one of Australia’s favourite investment strategies. In fact, data suggests, there are 10.6 million dwellings in Australia valued at a whopping $8.1 trillion, that is 3 times as valuable as all the stocks listed on ASX! An investment property is always increasing your wealth and securing your future financially.
Read on below for our CEO and founder Chat Singla’s top tips to keep in mind while buying an investment property!
- Find the perfect property consultant and let them guide you. The information on the internet does not equate to the experience and knowledge a professional property consultant has. We’ve had many clients who come to us with information from the internet only to realise how wrong they were! We will not only help you with ongoing advice but also get you the best possible value from your property.
- Choose the right property, at the right price and right location. Investing in real estate is generally all about capital growth, so make sure to choose a property that is more likely to increase in value, so buying at the right price and at the right location becomes absolutely critical. Patience and knowledge are key to investing in the right property!
- Leverage equity from another property investment to invest in another one! This, over the time, became an effective way to buy an investment property. What is equity? Equity is the amount of money in your home that you actually own. It can be calculated by working out the difference between what your property is worth and what you owe on the mortgage. Going any deeper into here would just make it complicated for you, so get in touch with our property consultants to know how you can leverage equity from another property!
- Positive cashflow should be king! A positive cash flow property is an investment property that gives you a bigger return than it costs you to own. This should also be a key factor while you’re looking to invest in a property. For example, if your property cost you $10,000 a year in repayments, interest, maintenance and fees, but you received $20,000 per year in income from rent and tax refunds, your positive cash flow would be $10,000 a year!
- The property should attract renters/tenants! His suggestion to all his clients is plain and simple – buy a property in areas where the vacancy rate is less than 3% as they attract better renters and rent!
- To invest in the right property, investors should be well informed about investment concepts, processes, strategies, market fluctuations, historical data, and costs incurred with a property purchase.
As per our suggestion in the beginning, get in touch with our expert property consultants if you’re looking to invest in a property!
How will we help you? We will build a high-performing and diversified property portfolio, backed by the confidence of the latest research. The property portfolio will help deliver financial success for you!
Get in touch with us at 02-81230180 or drop us an email at info@successavenue.com.au
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