You’ve likely heard the old saying ‘fail to plan, and you plan to fail’. Finding the right investment property is no different, and requires you to have a plan. To begin your plan and property investment education follow the links below to access the "Property Investor Toolkit". Developed by the clever people at The Successful Investor - you can use their various FREE resources, videos, calculators and articles to help you find the right property for your circumstances.
The toolkit includes
- Capital Growth Calculator
- Home Loan Offset Calculator
- Custom Depreciation Calculator
- Borrowing Power Calculator
- Property Transfer Stamp Duty Calculator
- Property Buying Cost Calculator
- Property Selling Cost Calculator
- Home Equity
- Mortgage – Premium Calculator
- Mortgage -Extra Payment Calculator
- Mortgage – How Long to Repay Calculator
- Mortgage – Lump Sum Repayment Calculator
- Mortgage – Loan Comparison Calculator
- Mortgage – Loan Repayment Calculator
- Saving Calculator
- Term Deposit Calculator
- Income Tax Calculator
- Budget Planner Calculator
To get you started, here are the Successful Investor's top five property investment strategies:
- Equity – Unlock it! Use the existing equity in your home to buy your first investment property. Then use the equity from your home and investment to buy your next property.
- Tax Breaks – Maximise them! We’ll show you how to get the best possible tax breaks so your investment property mortgage is funded through rent from tenants and additional cash from reduced tax.
- Gearing – Positive or Negative? If you’re negatively geared you’ll pay money towards your property each month. Positive gearing means you’ll make money each month. Understand cash flow impacts before you invest.
- Research And Diversify. As your portfolio grows, diversify into other locations but always ensure you buy in desirable areas that are close to transport and have easy access to schools and amenities. It is also essential to diversify your portfolio. Once you buy in one location, it can be tempting to buy again in the same place. However, that approach does not spread your risk and help you diversify your investments.
- Property Type – House, townhouse or apartment? Houses, townhouses and apartments can perform well for you if you make the right choice. Always buy with your budget and cash flow requirements in mind. Put simply, only buy what you can afford. This will not only keep you safe, but may mean you can buy more properties in the future. And, if you do go on to expand your property portfolio, then a mix of houses, townhouses and apartments in various locations is, in most cases, the safest way to go.
Whether you are a first time buyer or a seasoned investor Michael Sloane and the people at "The Successful Investor" will help you every step of the way. Their property investment strategies and ongoing mentoring are the key to success and developing a strong property portfolio. It could make the difference between a good investment property and a great one.
Credit - The Successful Investor © 2017