5. Do the sums.
Even if maths isn’t your best subject, you are going to need to make sure your figures add up and be able to understand the financial impact of purchasing a property.
4. Have a plan.
Always consider the tax, negative gearing and capital gains implications before buying an investment property to make sure everything fits with your goals. Have your advisor go over your current financial situation to help ensure that you have the right investment plan in place, now and for the future.
3. Follow the leader.
Look at the successful people around you and watch what they do. While it doesn’t always pay to follow the herd, it can pay to follow the leader – especially if they’re someone you respect and they have a proven track record in property investing.
2. Location, Location, Location.
Always consider existing or potential infrastructure near a property. Evaluate a potential investment property’s access to freeways and public transport, and research if the area is slated for new investment and development in the near future.
1. Buy low, sell high.
Seems obvious. Yet many investors fail to do their due diligence before signing on the dotted line. Using a team like FNIP can give you an insight into market trends and an indication of the current market climate. Also, finding out comparables sales in the area for the same or similar properties can give you a more accurate baseline for making an offer. The point? Do your research.
First National is Australia’s largest independent real estate group and the only 5 Star Canstar rated real estate group in Australia