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Our experience
has confirmed the wisdom of our Seven-Point Plan for Property Investing.
Plan
the investment
The first step is to review all your investments to determine how
much of your assets you wish hold as real estate to achieve a balanced
portfolio.
Select
the property
The second step is to select the type of real estate you plan to
invest in, how much you wish to pay for it and the rate of return
you are seeking. These determine the profile of the property to
look for.
Do
your financial analysis
After a candidate is found, estimate how much you can expect to
rent it for and pay in maintenance and other costs. These determine
how much you should pay for the property and how to finance it.
Arrange
the finance
No longer a case of simply talking to your local bank manager. There
are many loan packages offered by a range of financial institutions.
The pros and cons of each need careful consideration.
Negotiate
the purchase
The fifth step is to select the appropriate tactics to conclude
the sale. These will depend upon how the property is being sold-by
auction or private treaty.
Arrange
the conveyancing
Once the terms and conditions of the sale have been agreed with
the vendors or their agent, the formalities of the conveyancing
need to be concluded.
Manage
the property
The final step is arranging selection of tenants, collection of
rent, payment of rates and fees, and repair and maintenance of the
property.
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