We are here to help you remove the complexities and the uncertainties when it comes to property investment. At different points in our lives, we have different goals. For many, the thought of investing can be daunting and we are here to put your fears to bed. We help create strong and balanced portfolios for our clients. Let us help you start the journey of property investing for a successful future.
You may already own a home or apartment which is already tenanted or plan to purchase an investment property to do just that, our property managers can help you from selecting the property to finalising the property and helping with finding tenants for you to maximise your returns.
Steps for Property Investing
1. Assisting in reviewing your personal cash and budget
When it comes to owning an investment property, the cash flow is extremely important and that can have implications when borrowing from the bank. We would advise to have at least 25-30% deposit when buying an investment property.25 -30% deposit.
2. Contact a Mortgage Broker or a Bank if you require finance
Once you know exactly what you are prepared to borrow, get in touch with a Mortgage Broker or a bank to go through several options with regards to financing and get a pre-approval. Pre-approval is important as it gives you an idea of how much you can borrow and sets the expectation of what type of property you can purchase – apartment, home etc. If you need, we are happy to share some contacts of Mortgage Brokers who have helped many of our clients in the past.
3. Speak to your account for tax implications
Understanding the tax implications of buying an investment property is best explained by your accountant. Consult with your Accountant before making investment decisions.
4. Finding a Lawyer
You will require the services of a conveyancer or solicitor to handle the purchase process. You can either select your own or we are happy to share some contacts who have been working with us for years.
5. Property search
Whilst doing your own research is important, we can help you narrow down on the properties based on the borrowing capacity, return on investment, price escalation potential, and also marketability with respect to amenities and location, which makes it easy to rent.
6. Property management after purchase
In most cases, we recommend that you allow us to manage your property so that we can deal with tenant queries, collecting rent on your behalf, conducting periodic inspections etc. We offer competitive market rates for Property management and ensure that our clients get a stress-free investing experience.
Some of the key roles we will perform to manage your investment property:
- Advertising the property for rent
- Organize Showings
- Screening of prospective tenants
- Managing the Tenancy/Lease Agreement signing and handling questions
- Collecting rents and Deposits
- Holding Deposits in Company Trust Account (as per RECA Rule)
- Inspection of the property on a periodic schedule
- Organize for repairs