Are you considering the purchase of an investment property?

Have you REALLY thought about it?

Got a checklist of the decisions you need to make – even before starting to look at which property?

Do you know where to purchase or what type of property or why some markets are better than others?

We have the answers!
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There is definitely a right way and a wrong way to buy an investment property, but the wrong way is not always an intentional error – it’s usually one that comes from lack of preparation, guidance, education, logical thinking, and experience.

Let’s start with preparing yourself to undertake the journey of property investment first, and then we can look at the nuts and bolts of property investment, as well as the dos and don’ts. 

Preparing Yourself – Property Investment 101

Investment can be defined as “the action or process of investing money for profit” or as something “that is worth buying because it may be profitable or useful in the future” or “an act of devoting time, effort or energy to a particular undertaking with the expectation of a worthwhile result”. In summary, we are talking about the use of money to purchase something useful or profitable, but it takes time effort and energy to get a worthwhile result.

In light of this, we need to make sure that before you invest money, time, effort and energy that everything is organised with your personal finances to meet day-to-day costs and that your desired investment goal and path to reach it is clearly mapped out. Without this planning, what seems like a good idea can quickly become a not-so-good idea.

Can you tick all the boxes below?

❒ I have a budget and can stick to it

❒ I have a savings record

❒ I know what my comfortable level of risk is

❒ I understand the benefits and risks of property investment

❒ I have 1, 5, 10 year property investment goals

❒ My purpose for investing in property is to...

Once you can confidently tick all the boxes above, you are ready to move to the next step: Organising the Finances.