So you are looking for your next investment property, one that will strengthen your portfolio. I care for my portfolio and I bet you are no different. The idea is to make a fool-proof purchase, one that holds you in good stead in the long run. Part of your Due Diligence lies in asking the right questions to the right people. I recommend these 7 must-ask question before you venture knee-deep into buying investment property.
You have a big portfolio and you have great ambitions too. Naturally, you will be looking forward to getting more than one loan serviced, for one or several properties. If this be the case, I will advice you in all earnestness to look for multiple lenders.
Any client sitting with me for even 10 minutes will hear me spell out the magic word LOCATION at least once. Yes, I give paramount importance to the location of a property irrespective of whether my clients seek it as buyers or investors.
Property in remote locations might look good for sometime but they only flatter to deceive. Pete Wargent for the Property Update writes why they fail time and again. Wargent starts with the example of Cairns where high rental yields and depreciation benefits were cited as great reasons for long time positive cash flow. GFC reduced the Cairns property prices to rubble, washing away their value by more than 30%.
A shift in lifestyle choices has contributed greatly towards the increasing popularity of units in Sydney. Presently, they have become the premier choice of dwelling hunters, surpassing the traditional craze for houses. An article on the website news.com.au talks about the shift in consumer preference and the reason behind it.
The rental growth bandwagon for Sydney’s Eastern Suburbs has come to a bit of a decline. However, the overall growth rate of 0.8% cannot be thought of as portentous because it does not have to do with any fundamental deficit. Jonathan Chancellor for the Property Observer explains the conundrum.
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