February 7, 2019
Property investment is one of the most popular forms of long-term investments in Australia.
It involves purchasing with the intention of earning a return on investment. This might be achieved through rental income or through capital gain when you resell the property in the future.
Either way, it can feel overwhelming when deciding upon a house to buy and invest in. For a successful investment, be prepared to do the research, seek advice, and take risks. But it can be very worthwhile in the long run!
Michael Yardney from PropertyUpdate.com.au has developed a great 5-stranded strategic approach to ensure his properties outperform the market averages.
He suggests finding a property that:
Before travelling down the property investment path, ensure you understand all the costs involved in the ownership.
As highlighted by Money Smart, when you own and rent out an investment property, you’ll be responsible for ongoing costs, such as:
If you borrowed funds to invest, you’ll also have mortgage repayments. With positive gearing, you may pay tax on your rental income.
Mortgage Port recommends finding a property manager to keep everything in order for both you and your future tenants. They can help you get the best possible value from your property, as well as provide advice on property law, and the rights and responsibilities for everyone involved.
A property manager can also help you to find the right tenants and take care of any maintenance issues.
At Listing Loop, there's a wide range of ‘just listed’ investment housing waiting to be discovered by you! Start searching for them today.
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