When deciding whether to enter the investment arena, you first must decide upon your goals: do you want to maximise your capital gain? Your rental income? Both? What is your budget?
This last point is perhaps the most important. While capital growth and rental yields will significantly influence your decision, making sure you can afford your investment is paramount.
There are five top tips for finding the perfect investment property that everyone should take under consideration:
These five tips give you an idea as to the mindset you should be in, and first actions you should take when beginning your search. Now combine this mentality with looking at eager vendor situations (e.g. divorce settlement, buyer has bought elsewhere, deceased estate), growth fundamentals and long listings and you will ‘strike gold’ with a bargain. There are of course no guarantees with property, but you make your own luck. Happy hunting!