You need to focus on your finance first
It’s so important to get the right finance, and having a great mortgage
broker can really help.
Get your finance pre-approval before you start
your property search, so you can confidently make an offer.
And make sure you have a buffer for emergencies, such as the hot water
system blowing up the week after you exchange contracts.
Yes, that really happened to one investor I know!
It’s essential to factor in unexpected costs
As I just touched on, it’s essential you make sure you have a budget to
cover the unavoidable but sometimes unexpected costs of owning a home.
These are the expenses that your landlord or perhaps even your parents
may have covered in the past.
You can’t plan for everything, but having a rough idea of your costs and
putting some money aside each time you get paid to cover things like utilities,
insurance, body corporate fees, property management fees,
and maintenance will help take some of the stress away when bills popup.
Remember, these costs don’t stop when your investment property is empty
and there’s no rent coming in, so building an emergency account is key.
has all the tools that a property manager has, but
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Tuesday, 23 November 2021