So, you're new to investing in property?
The word ‘investment’ brings with it a lot of serious connotations, but property investment is a lot simpler than you might think. Purchasing a house to live in or an apartment to set out for rental is just one more purchase in your life. The big difference is the money you can get in return.
While the one thing that stands out for most first-time property investors is risk, there are many other factors that should be influencing your property investment decision. Are you in it for the long term? Is this something you want to make money from in the near future? All of your questions can be answered by our professional guides.
Before you start out in property investing, it’s vital to gain some knowledge of how property investment works.
Self-education is one way to ensure that the investment approach you choose has the best chance of success. You can start out by learning about the basic options for property investment, investigating property prices around Australia and considering your own finances. Knowing the different terminology involved is also good. With these things on board, the right professional can provide you with guidance as you go along.
Learning the terms is just one part of the homework you need to do before becoming a property investor. Your next lesson is math.
In your initial research into property investment, look into the numbers. Things like tenant demographics for different areas, tax rates and mortgage percentages can all give you an idea of what you can potentially make.
It’s also important to consider the mathematics of your investment. In the long term, even small figures can round up to large numbers. Think a 1% fee is more manageable than laying down several thousand dollars? Depending on the final sum, it could end up being ten times greater.
Talk to a professional
Big decisions in life always require expert advice, and that’s why it’s essential to talk to a professional advisor before you jump in to property investment. An experienced advisor can not only point you in the right direction but help you negotiate the best terms, putting you in a much better position. There really are no dumb questions. Contact us now.