| A few thoughts on purchasing and managing investment property:-
- Choosing the right property at the right price.
- Do your sums – Cash Flow is always king.
- Seek financial advice from your accountant before purchasing
- Speak to a number of local Estate Agents in the area your considering buying in, before purchasing
- Understand the market and the dynamics where you are buying.
- Find a good property manager and let them to do their job.
- Pick the right type of mortgage to suit you
- Use the equity from another property
- Negative gearing
Property represents a very secure, sound, long term form of wealth creation. As such, many people are turning increasingly to property investment to secure their future. A well managed investment can offer many advantages including income and capital growth. Many investors may also be able to use their investment to reduce tax payable on their assessable income.
Property is also a good option as part of an investment portfolio, particularly with people who do not need immediate access to their money and wish to protect themselves against inflation over the long term.
It is important, however, to be aware of the responsibilities of managing your property investment and assuring proper care and responsibility.
As considerable money is at stake, you need to take the time to get good advice before you act - and remember, consideration of any investment presents wide and varied alternatives and there are always plenty of experts ready to pass on their opinion.
It is wise, therefore, to always seek appropriate advice from a qualified financial advisor or your accountant, before purchasing that all important investment.
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