Investment

Ask Yourself

·         Why invest in property?

·         Is investing in property right for your needs?

The right approach:

What do you want to achieve by investing in property and why?

 Are you investing in property to set up early retirement, part of your superannuation plan?

Helping your children with their first home purchases?

Everyone has a different reason as to why they wish to invest in property, to know why, is your first step to making the right decisions.

Outgoings for purchasing property is approximately $5,000, this is conveyancing, insurances and rental set up. The investment term that you should be looking at is 6 – 10 years the longer the better. The longer you keep the property the less need in monitoring the current market place. Invest in a good area with good rental returns and high demand for rentals and then leave the rest to your Property Manager. This allows you to draw equity from your property as the market grows to purchase the next investment saving you transaction cost.

Maintaining and renovating your property, not everything adds value. It is easy to over capitalise and therefore not get your money back. Renovations need to be carefully planned.

Engaging the right Property Manager to handle your property and advise you correctly regarding the needs and any requirements the property may need to attract the right tenant is crucial. Your Manager will advise what maintenance needs there are and when they need to be done, this will help maintain value and get you the best return on your investment.