Good plans shape good decisions. That's why good planning helps to make elusive dreams come true.
Lester R. Bittel. The Nine Master Keys of Management
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Planning on Investing in Property
We suggest that anyone that is planning on buying a property for investment obtain expert advice from an accountant and finance broker. The steps we recommend one takes as part of the overall plan are listed below.
All the following steps can be arranged by API with experts in their relative fields.
- Talk to an independent Finance Broker to find out what your individual needs and limitations are regarding your investment.
- Talk to an Accountant to discuss your Tax Variation, Deductions and your annual Tax returns and how these things will affect your day to day cash flow.
- With this knowledge and information in hand we will locate a suitable property which should meet your immediate criteria whilst offering the probability of long term capital growth. This growth in value is essential to the master plan as the capital growth of this investment will determine how soon you can build your portfolio and buy again.
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API offers 2 distinct services as Buyers Advocates.
1. We have a service where a buyer does not have to pay us a fee as we will be paid by the Developer who supplies the property.
Whilst it is not always the best way to proceed some buyers who have lower cash flow will buy a new property as these generally cost less to maintain & service thanks to extra benefits such as
- higher rental yields
- greater depreciation benefits
- shorter vacancy periods
- lower maintenance costs
It must be remembered though that the only reason we invest in the long term is for capital growth.
2. We have a service where the investor needs to buy an established property to gain the maximum capital appreciation, it must be remembered though this may cost you more in the short term as the ongoing costs are generally higher for an established property. The people who make the most money by way of capital gain are usually the people who buy established property. It will cost for this service as we do not get paid by the Agent or Vendor of the property.
When a Real Estate Market is strong, a Buyers Advocates role changes to a small degree as there are more buyers than there are properties available. When this happens it is more important to find the best property in the right position to attract the maximum growth rather than worrying about beating the vendor down on price.
Invariably you miss out if price is an issue for you as there are plenty of buyers who are just wanting to buy and are prepared to pay "fair market value". The job of your Advocate as an 'expert' in the specific area is to source property that is fairly priced & has short term potential for growth.
- You will need to a Solicitor to oversee the conveyancing issues relating to the purchase. We can help with this at your request.
If you have any questions regarding planning on Investing in Property call Australian Property Investor now on 03 9533 2255 or email us for a FREE, No Obligation appointment.
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