Investing in (residential) property
can be very lucrative and profitable. If you get it right…. And getting it right is the key. If there is one thing I would like you to remember it is this: Before you jump in, make sure you take professional advice. I have seen too many people with an investment property 5 years down the track that has not increased in value and no significant rent increase. That becomes a noose, not an asset. Here is my (by no means exhaustive) list of questions I recommend you ask.
What is the supply/demand situation for this type of property. What is the job/employment forecast. What is the vacancy rate for this type of property.
What timeframe am I holding the property for. What is my exit strategy. When/if I sell, who is my most likely buyer. How should I structure my finances. Which bank/lender is right for me. Am I getting all my tax benefits. What will my cashflow be.