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Property Investing - Stick To The Basics
Don't heed the ramblings of get-rich-quick property spruikers; follow some
basic principles and you'll separate the wheat from the chaff when making your
next investment decision.
Establish A Strategy
Determine your motivation for investing as this will influence the
type of property you secure: are you looking for solid capital growth or good
rental returns. Your strategy will affect why you might choose a flat in the
city rather than a batch in the country for instance.
Set Limits
Set your own limits based on what you can afford rather than what lenders are
willing to offer - they will typically offer the maximum amount that you can
borrow.
Know The Neighbourhood
Get to know the area you intend to invest in. Locations with a vibrant
entertainment, good transport, a selection of schools and open space provide
good opportunities for capital growth.
Secure The Right Finance
While interest-only products tend to suit a lot of investment situations,
consider the range of options available and secure independent advice before
taking on any finance. Know your property. Real estate agents are notorious for
ensuring they show properties when they are at their best. Try to re-visit at
different times, as well as several times, before making your final decision.
Find The Right Tenants
Select the wrong ones and not only could find yourself struggling to meet
mortgage repayments, you may also be burdened with serious repair and
maintenance costs. If you don't have the time or inclination to manage the
property yourself, engage the help of an agent - they'll collect the rent and
deal with any tenant problems.
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Did You Know?
Lending Hand Finance can help secure finance for your property investment.
Contact Lending Hand Finance on
1300 850 545 or
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