The #1 issue for investors is how to get started!
If you have made a decision – what the next step?
Well, are you going to do the research yourself or involve a buyers agent? Many investors mistakenly evaluate their investment properties using the same criteria they use when they choose their home – making emotional decision.
An investment property needs to perform as an investment (ie. provide you with a return in the form of capital growth and/or cashflow).
You should assess a property using logical, data-driven criteria such as:
> The property’s rental yield
> The property’s expected capital growth
> The surrounding suburb’s vacancy rates
> The age of the property, and if it has a depreciation schedule or not
> Will I end up with a return on my investment
Next step can be to speak with a mortgage broker about your borrowing capacity and lender/cashflow strategy.
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