Interested to invest in property? There are five things you need to plan well before you.
1) Set your specific and quantifiable investment goals – for example, some of your goals would be to generate a steady cash inflow of $1,000 per month and/or deriving an expected capital appreciation of 20% after one year time frame.
2) Once you had set you goals, it is important then to ascertain which type of properties you would like to purchase to achieve those goals, some of the choices would be fully detached house; semi detached house; units in high raised apartments; town houses and/or commercial property.
3) Research into the areas which you would like to purchase the property, consider factors such as ease of transport to work; safety; friendliness and safety of the neighborhood; accessibility to any good primary or high schools; potential future infrastructure growth; historical growth pattern; and demographical data.
4) If you are going to purchase an investment property, it is important to talk to your accountant and/or tax agent to determine the best loan structure to maximize the deductibility of the interest expense, hence to give you the maximum return on the negative gearing.
5) Talk to a professional licensed mortgage broker, and choose a home loan product which will benefit you. Sometime, the interest rate is not the sole decisive factor, but other variables should also be considered, with which include transportability of the loan; ongoing monthly fee; exit fee, and ability for the chosen financial institution to pass any future interest rate cut from RBA.
We would welcome anyone who wants to purchase a property, especially a property investment, to talk to John Cheng FCPA from EndureGo, not only he is ASIC licensed mortgage broker, a full member of MFAA, but he is also a FCPA and a registered tax agent, and would be able to help you to make that right decision at the time of purchasing a property.
Act now, and give us a call on 08-8123-6788, or 0403-418-758, or send us an email on email@example.com. Please also feel free to visit our website at www.endurego.com, and facebook at www.faceboo.com/endurego.